Word: fraude
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...cashless era of the philosophers finally arrived? So far, with every advance made by encoded plastic cards and automated billing systems, there have also been glitches or concerns about fraud and privacy. At Chemical Bank, for example, automated teller machines mistakenly deducted a total of $16 million from 100,000 customer accounts in February because of a typographical error in a single line of computer code. The bank bounced 430 checks as a result of the malfunction...
...consider the problem of fraud, which high-speed computers can unwittingly abet. According to the IRS, the number of fraudulent electronic filings doubled to 26,000 last year, at a cost to the government of nearly $54 million, as computers spat out refunds before IRS examiners could go over the returns. Such incidents have led critics to warn that the rush to automated payment systems is proceeding too fast even for computer experts. "The demands on software are far outpacing the development of software," says Dain Gary, a manager at the Software Engineering Institute at Carnegie-Mellon University...
Walsh, who was found guilty on 41 counts of bank fraud and making false statements more than a month ago, has refused to resign his seat despite repeated calls for his departure from colleagues and Cambridge political observers...
...borrowers and legal experts said Dime may actually have perpetrated the fraud, and that Walsh was merely used as the scapegoat...
...recent companion case to the Walsh case, 102 counts of bank fraud charges against attorney Alan H. Segal were dismissed...