Incidents

Stanley Rifkin1979-11-05 00:00:00 UTC

Working for a company under contract to develop a backup system for the Security Pacific National Bank wire room, Rifkin learned of the transfer procedures used, and found that bank agents would frequently write down the daily transfer code. One day in mid-October 1978, he made his way into the transfer room, saw the code, memorized it and walked out. Using social engineering techniques, he then made a few phone calls and had $10.2 million wired to the Irving Trust Company in New York for the credit of the Wozchod Handels Bank of Zurich in Switzerland, where hed already set up an account.