Say Good-Bye To The US Cent?

As to rounding up or down in interest in banks, there was a story in the news some time back about how someone used this system. In banks the interest is almost always someting like 2.58% or something wierd like that and when it is compounded every quarter is comes out to be even an odder number. Some lady in the right place in a bank realized this and started transferring the excess amount over an even number to her personal account. Sound trivial but when you take something like $0.003 per account and add it to your account every quarter, it starts adding up. Thousands of those littel $0.003's just keep on coming and then there is the interest on that too. She did this for about 10 years and would have never been caught except as usual, just couldn't stop.When the interest in her account was a little to staggering it became noticed by someone. Not sure who but she had accumulated millions. Never sure if this was a true story but almost sounds like an Alfred Hichcock type of story.

The Half-Nickel, I like it!..

After reading the article that Jbuck has so generously provided.......
Eaglefoot changes his mind about "formulating a plan for extra money" because the word "embezzlement" scares him and he wants to continue to be a law abiding citizen without a criminal record.

Gold is bold ....... and Nickel is fickle !!......sorry....couldn't resist trying to add another one !....

Good choice, man! I do not want to visit you in prison.

Oh so true!

The Ike I like... and the Presidential dollar is not as fun.

Thanks a lot of that link jbuck. I've heard that story for many years and always wondered if true or not. From what it sounds like it may be happening more than people think and even now. This computer age sure has created a brand new type of criminal.
Not to many years ago a million or so vanished from the First National Bank of Chicago and it was never found out how. The news media suggested a computer error or computer type robbery but nothing that I ever heard of ended that one.
Now since jbuck knew so much about this system, I now wonder what he did with all that money?

..... BINGO !!.....

I even found out there is a name for this type of stealing, it is called "Salami slicing". Check wickipedia!