11/17/2025
In 2011, Australian bartender Dan Saunders discovered a late-night glitch in a National Australia Bank ATM that allowed him to transfer funds between his credit and savings accounts when the system was offline. Because the machine did not immediately reconcile balances during this window, he was able to withdraw money that did not actually exist in his accounts. Over several months, Saunders repeatedly used the loophole, drawing large sums of cash and funding a period of extravagant spending that included luxury travel, hotel stays, parties, and helping friends. The total amount involved is disputed: Saunders and some media outlets have claimed he cycled or spent around A$1.6 million, while later examinations of bank records suggest the confirmed withdrawals were significantly lower, in the range of several hundred thousand dollars.
After living with increasing fear and guilt over the scheme, Saunders eventually decided to come forward. He contacted journalists, publicly explained how he had taken advantage of the ATM error, and then surrendered to authorities. In 2015, a court sentenced him to one year in prison followed by community supervision, and ordered him to repay a substantial portion of the money to the bank. Following his release, Saunders returned to an ordinary lifestyle and has since spoken openly about the psychological impact of the experience and the consequences of exploiting the loophole.