Stanley Mark Rifkin (born in 1946) is a convicted criminal in the United States responsible for stealing $10.2 million through wire transfer via telephone in the autumn of 1978. At the time, it was the largest bank theft in U.S. history.

Security Pacific National Bank heist

Working for a company under contract to develop a backup system for the

Security Pacific National Bank Security Pacific National Bank (SPNB) was a large U.S. bank headquartered in Los Angeles, California. It was acquired by Bank of America in 1992. History On September 1, 1868, Hellman, Temple and Co. opened their first bank branch in Los ...

wire room, Rifkin learned of the transfer procedures used, and found that bank agents would frequently write down the daily transfer code. One day in mid-October 1978, he made his way into the transfer room, saw the code, memorized it and walked out. Using

social engineering Social engineering may refer to: * Social engineering (political science), a means of influencing particular attitudes and social behaviors on a large scale * Social engineering (security), obtaining confidential information by manipulating and/or ...

techniques, he then made a few phone calls and had $10.2 million wired to the

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for the credit of the

Wozchod Handels Bank of Zurich Wozchod Handels Bank of Zurich was a Swiss bank established in June 1966. It was involved in Russian gold trading and was reported to be owned by the Soviet government. Due to trading losses, the bank was liquidated in 1985. It also gained noto ...

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, where he'd already set up an account. Having previously set up a diamond transaction, he hired a diamond merchant to pick up in diamonds from the Soviet Trading company, which he had purchased for USD 8.1 million. Rifkin then hired a diamond merchant to buy the diamonds from the Soviet trading company in Switzerland. Rifkin then played the role of diamond courier, picked up the diamonds at the airport, put them in his checked luggage, and returned to Los Angeles. He then asked his former lawyer, Paul W. O'Brien, to negotiate giving the diamonds (then worth more in the USA than in Switzerland) to the Bank in exchange for a consulting contract to help solve the security problem he identified by his fraud. It was his former lawyer (not under client/lawyer privilege) who reported him to the FBI. The FBI didn't have enough evidence to prosecute, so they set up and executed a sting luring him into committing another crime for which they did have enough evidence to prosecute. He was captured just before midnight on November 5, and he pled guilty.

Security Pacific National Bank heist

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