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RE: Did XML or web services play a role in Citibank fraudcase?


Sound like garden variety fraud with a high-tech component.

Stealing passwords, setting up fake accounts, etc.

Then using in-place procedures to transfer money.





Barry Tauber ( btauber@i... ) 847-267-8011
International Representative, INCITS-
Certified Java, Microsoft (maybe just plain certified)

-----Original Message-----
Ken North [mailto:kennorth@s...]
Wednesday, April 20, 2005 5:23 PM
Subject: Did XML or web services play a role in Citibank fraud case?


Details are still emerging about a case in India involving MphasiS employees siphoning funds from Citibank customer accounts. Mphasis has been providing business process outsourcing to a customer list that includes FedEx, J.P. Morgan Chase & Co and Citicorp. Some news reports talk about a call center, but according to a 2001 eWEEK article, Mphasis provides "integration and middleware" to complement legacy systems.


Citibank has adopted XML vocabularies for finance (e.g., OFX) and deployed web services for private, corporate and institutional use. Citibank offers online self-service banking. CitiConnect is an electronic payment processing system that exchanges XML messages. CitiFile Services uses the internet for "secure file transfers without a host-to-host connection".


As of yesterday, 19 people had been arrested but police have suggested there could be a larger fraud involving more people. Some of those arrested used cyber cafes to transfer funds because they were monitored at work. News reports say some the rogue employees obtained PIN numbers and passwords.



======== Ken North ===========


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