18 December 2006
A man who admitted hacking into the Reserve Bank's telephone system now
wants $7500 from the organisation for using his information to upgrade
Security consultant Gerry Macridis walked free from court despite
admitting he accessed the bank's computer-controlled phone system
He is now threatening legal action to be paid for work done to fix the
Mr Macridis admits the bank never sought his help, but it used his
knowledge to block future breaches.
"The typical `market value' of the information was some $7500," he says
in a letter being sent to Reserve Bank governor Alan Bollard today
advising of the lawsuit.
Mr Macridis confirmed last night that he was seeking money based on
payments he received in dealings with various banks. He would not
The Reserve Bank said it could not comment till it had notice of the
This is the latest twist in a saga that in September saw Mr Macridis
discharged without conviction in Wellington District Court after
pleading guilty to accessing the bank's phone system without
Mr Macridis said he was a consultant on computer security systems on a
casual basis and had worked for Telecom, Internal Affairs and police.
He told the court the bank's phone system was the worst he had seen in
11 years as a consultant and was vulnerable to tapping from overseas.
Mr Macridis had sent a report to the bank detailing the security issues,
then called asking for payment for advising them.
Judge Ian Mill said Mr Macridis had acted honourably and a conviction
would be disproportionate to the crime.
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