Sometimes computer errors are too expensive for people and businesses.
Currently, not a single production, enterprise, institution can do without computers and programs. The more the latter penetrate into our life, the stronger becomes the dependence of mankind on the correct and correct operation of the ubiquitous software.
On September 6, 1989, 41,000 Parisians suffered from a computer error. They received letters informing them that they had committed murders and robberies instead of traffic violations. We decided to recall several more cases when people or enterprises suffered morally or financially from computer errors.
Barbara Murphy is considered dead by the US due to a flaw in the government's electronic system.
US resident Barbara Murphy did not receive a pension for a long time and could not use bank cards due to the fact that the government electronic system mistakenly considered this woman dead. Two years ago, the system decided that Murphy's death certificate had been entered into it, and sent a notice to the pensioner's insurance company. When Barbara decided to look into the situation, she could not even take a queue at a state institution. The system, which considered her dead, refused to issue a ticket to the woman.
The big bank Citi also paid the price for its software crash.
Large banking group Citigroup was fined $ 7 million by the US Securities and Exchange Commission for a computer error. As a result of a computer crash, Citigroup did not provide the Commission with information on 26,810 transactions made between 1999 and 2014. The $ 7 million fine was the largest in history for such violations.
UBS Japan almost spent 3 trillion yen instead of several million to buy securities.
Another bank that could "fly in" a large sum of money due to a computer error was the Swiss UBS. The Japanese arm of the bank was planning to place an order for the purchase of 30 million yen ($ 290,550) of Capcom bonds. However, due to a system error, five zeros were added to the order. Fortunately, the Tokyo Stock Exchange canceled the deal and apologized to the company.
Computer system errors or "typos" by traders on the Tokyo Stock Exchange are not uncommon.
By the way, errors of computer systems or "typos" of traders on the Tokyo Stock Exchange are common. In 2005, a trader at the Mizuho banking group placed an order on the exchange to sell 610,000 shares at yen apiece. In fact, he had to sell one share for 610,000 yen. On the same day, a failure occurred in the computer system of the exchange, due to which the application could not be canceled. As a result, Mizuho Bank lost 40.5 billion yen.
Hackers failed to steal a large amount from the bank due to a spelling error.
There are also known cases where errors and failures work for good. In February of this year, the banking community actively discussed the hacking of the Central Bank of Bangladesh by hackers in order to obtain data for making fraudulent money transfers. About 80 million dollars were stolen. However, a simple typo in the bank transfer data saved nearly $ 1 billion. The fact is that four requests from criminals for transfers in the amount of $ 81 million were successful. And the fifth, worth $ 20 million, raised questions, since the recipient's name was spelled incorrectly - fandation instead of foundation. It was thanks to this that one of the correspondent banks turned to the Central Bank of Bangladesh for clarification, which stopped this payment and several other transactions.
Currently, not a single production, enterprise, institution can do without computers and programs. The more the latter penetrate into our life, the stronger becomes the dependence of mankind on the correct and correct operation of the ubiquitous software.
On September 6, 1989, 41,000 Parisians suffered from a computer error. They received letters informing them that they had committed murders and robberies instead of traffic violations. We decided to recall several more cases when people or enterprises suffered morally or financially from computer errors.
1. An American woman was mistakenly believed to be dead for 2 years
Barbara Murphy is considered dead by the US due to a flaw in the government's electronic system.
US resident Barbara Murphy did not receive a pension for a long time and could not use bank cards due to the fact that the government electronic system mistakenly considered this woman dead. Two years ago, the system decided that Murphy's death certificate had been entered into it, and sent a notice to the pensioner's insurance company. When Barbara decided to look into the situation, she could not even take a queue at a state institution. The system, which considered her dead, refused to issue a ticket to the woman.
2. Citigroup paid for a system crash
The big bank Citi also paid the price for its software crash.
Large banking group Citigroup was fined $ 7 million by the US Securities and Exchange Commission for a computer error. As a result of a computer crash, Citigroup did not provide the Commission with information on 26,810 transactions made between 1999 and 2014. The $ 7 million fine was the largest in history for such violations.
3. UBS and Trillion-Dollar Bonds
UBS Japan almost spent 3 trillion yen instead of several million to buy securities.
Another bank that could "fly in" a large sum of money due to a computer error was the Swiss UBS. The Japanese arm of the bank was planning to place an order for the purchase of 30 million yen ($ 290,550) of Capcom bonds. However, due to a system error, five zeros were added to the order. Fortunately, the Tokyo Stock Exchange canceled the deal and apologized to the company.
4. Crashes on exchanges
Computer system errors or "typos" by traders on the Tokyo Stock Exchange are not uncommon.
By the way, errors of computer systems or "typos" of traders on the Tokyo Stock Exchange are common. In 2005, a trader at the Mizuho banking group placed an order on the exchange to sell 610,000 shares at yen apiece. In fact, he had to sell one share for 610,000 yen. On the same day, a failure occurred in the computer system of the exchange, due to which the application could not be canceled. As a result, Mizuho Bank lost 40.5 billion yen.
5. "Typos" of cyber fraudsters
Hackers failed to steal a large amount from the bank due to a spelling error.
There are also known cases where errors and failures work for good. In February of this year, the banking community actively discussed the hacking of the Central Bank of Bangladesh by hackers in order to obtain data for making fraudulent money transfers. About 80 million dollars were stolen. However, a simple typo in the bank transfer data saved nearly $ 1 billion. The fact is that four requests from criminals for transfers in the amount of $ 81 million were successful. And the fifth, worth $ 20 million, raised questions, since the recipient's name was spelled incorrectly - fandation instead of foundation. It was thanks to this that one of the correspondent banks turned to the Central Bank of Bangladesh for clarification, which stopped this payment and several other transactions.
