Australian Politics Forum - Banking system in meltdown! Right now!

Daves2017 Gold Member Offline Australian Politics Posts: 3337 Gender:	Banking system in meltdown! Right now! Jul 19^th, 2024 at 8:24pm Federal government calls snap crisis meeting amid massive global IT outage
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Bobby. Gold Member Offline Australian Politics Posts: 120216 Melbourne Gender:	Re: Banking system in meltdown! Right now! Reply #1 - Jul 19^th, 2024 at 9:48pm Thread already here: https://www.ozpolitic.com/forum/YaBB.pl?num=1721368722/30#44
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Sophia Gold Member Offline Posts: 9706	Re: Banking system in meltdown! Right now! Reply #2 - Jul 19^th, 2024 at 10:01pm All ATMs down, businesses shut, and airports in disarray! Cash will always be king! What is crowd strike? Anyway, the warning came years ago about this type of peril putting the world on standby mode! https://www.abc.net.au/news/2024-07-19/global-it-outage-crowdstrike-microsoft-ba...
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Sophia Gold Member Offline Posts: 9706	Re: Banking system in meltdown! Right now! Reply #3 - Jul 19^th, 2024 at 10:11pm I looked it up what this crowdstrike is… https://en.wikipedia.org/wiki/CrowdStrike My next question… what’s with the cloud problem now? Is that like where our photos are?
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Sophia Gold Member Offline Posts: 9706	Re: Banking system in meltdown! Right now! Reply #4 - Jul 19^th, 2024 at 10:18pm BTW….. where is everyone tonight?
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Sophia Gold Member Offline Posts: 9706	Re: Banking system in meltdown! Right now! Reply #5 - Jul 19^th, 2024 at 11:07pm Just rubbing it in…
Back to top	EB0DEBD2-535C-4F58-8983-A68D78267F36.jpeg (120 KB \| 15 ) If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand. Milton Friedman IP Logged

Bobby.

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Re: Banking system in meltdown! Right now!
Reply #6 - Jul 19^th, 2024 at 11:12pm

Good post Sophia.

It's ridiculous -
one person makes one mistake with a line of code on the other side of the world
and brings down the whole world.

https://edition.cnn.com/business/live-news/global-outage-intl-hnk/index.html

52 min ago

Microsoft says the underlying cause for the global outage has been fixed but impacts continue
From CNN’s Maisie Linford

Microsoft

said the “underlying cause” that caused the global outage “has been fixed,”
adding that residual impact is still affecting some services.

“The underlying cause has been fixed, however, residual impact is continuing to
affect some Microsoft 365 apps and services,” Microsoft said in a post on X Friday.

“We’re conducting additional mitigations to provide relief,” the post added.

More on what’s behind this: The outage appears to stem at least partly from a software update issued by firm

CrowdStrike

, experts tell CNN.
The CEO of CrowdStrike said that the IT issue causing a global outage
has been identified and that a fix has been deployed.

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Sophia Gold Member Offline Posts: 9706	Re: Banking system in meltdown! Right now! Reply #7 - Jul 19^th, 2024 at 11:24pm Just rubbing it in more… I did put this pic up earlier like… couple months ago…. It’s all starting to come to fruition ….
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Bobby.

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Re: Banking system in meltdown! Right now!
Reply #8 - Jul 19^th, 2024 at 11:31pm

Sophia wrote on Jul 19^th, 2024 at 11:24pm:

Just rubbing it in more… I did put this pic up earlier like… couple months ago….
It’s all starting to come to fruition ….

It's difficult to get large amounts of cash now.
Even the banks tell you to use their ATMs.
I get $100 from the supermarket as cash out -
that's possible and I don't have to trust a machine.

About 20 years ago an ATM ripped me off -
it debited my account for $300 and gave me no money.
I complained and when the bank did a check of the total at the end of the day
they said it was correct and wouldn't pay me.
I lost my $300 -
there was nothing I could do about it.

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Jovial Monk

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Re: Banking system in meltdown! Right now!
Reply #9 - Jul 20^th, 2024 at 8:59am

Bobby. wrote on Jul 19^th, 2024 at 11:31pm:

Sophia wrote on Jul 19^th, 2024 at 11:24pm:

Just rubbing it in more… I did put this pic up earlier like… couple months ago….
It’s all starting to come to fruition ….

It's difficult to get large amounts of cash now.
Even the banks tell you to use their ATMs.
I get $100 from the supermarket as cash out -
that's possible and I don't have to trust a machine.

About 20 years ago an ATM ripped me off -
it debited my account for $300 and gave me no money.
I complained and when the bank did a check of the total at the end of the day
they said it was correct and wouldn't pay me.
I lost my $300 -
there was nothing I could do about it.

Garbage!

The machine sends a laser through the notes just before dispensing them to make sure the total is correct, so if there were no notes the machine would know the amount was incorrect and drop the (nonexistent) notes into a holding container.

You lie a lot, don’t you?

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Aquarius

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Re: Banking system in meltdown! Right now!
Reply #10 - Jul 20^th, 2024 at 9:03am

I rarely use cash these days. My branch closed down during the pandemic and we all swapped over to internet banking. But I did go to an ATM yesterday to get cash for my DIL's birthday. I never give presents except to the kids. This was just an hour or so before the outage.

So I missed it all and when I got home my computer was working as usual and no problems with the internet. I actually didn't know about the global outage until I switched on the news at 5pm.

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Bobby.

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Re: Banking system in meltdown! Right now!
Reply #11 - Jul 20^th, 2024 at 10:22am

Jovial Monk wrote on Jul 20^th, 2024 at 8:59am:

Bobby. wrote on Jul 19^th, 2024 at 11:31pm:

Sophia wrote on Jul 19^th, 2024 at 11:24pm:

Just rubbing it in more… I did put this pic up earlier like… couple months ago….
It’s all starting to come to fruition ….

It's difficult to get large amounts of cash now.
Even the banks tell you to use their ATMs.
I get $100 from the supermarket as cash out -
that's possible and I don't have to trust a machine.

About 20 years ago an ATM ripped me off -
it debited my account for $300 and gave me no money.
I complained and when the bank did a check of the total at the end of the day
they said it was correct and wouldn't pay me.
I lost my $300 -
there was nothing I could do about it.

Garbage!

The machine sends a laser through the notes just before dispensing them to make sure the total is correct, so if there were no notes the machine would know the amount was incorrect and drop the (nonexistent) notes into a holding container.

You lie a lot, don’t you?

No lies - I got ripped off for $300 by an ATM.

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Jovial Monk Gold Member Offline Dogs not cats! Posts: 51474 Gender:	Re: Banking system in meltdown! Right now! Reply #12 - Jul 20^th, 2024 at 10:55am No, you did not. Why do you lie so much?
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Bobby. Gold Member Offline Australian Politics Posts: 120216 Melbourne Gender:	Re: Banking system in meltdown! Right now! Reply #13 - Jul 20^th, 2024 at 11:08am dear Moderators, Monk is following me around and trolling me.
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Bias_2012

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Re: Banking system in meltdown! Right now!
Reply #14 - Jul 20^th, 2024 at 11:26am

Bobby. wrote on Jul 19^th, 2024 at 11:31pm:

About 20 years ago an ATM ripped me off -
it debited my account for $300 and gave me no money.
I complained and when the bank did a check of the total at the end of the day
they said it was correct and wouldn't pay me.
I lost my $300 -
there was nothing I could do about it.

The ATM obviously ran out of cash, but if you'd checked your statement, your balance was probably the same as it was before you tried to withdraw the $300

It happened to me and the my bank showed me straight away that the figures hadn't changed

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