An Australian man who spent about $1.6 million after discovering a banking system glitch has spoken about the lavish lifestyle he lived before eventually being caught.

In 2011, Dan Saunders, a bartender from Wangaratta, Victoria, discovered a flaw in the National Australia Bank ATM system after attempting to transfer $200 from his credit card to a bank account that had only $3.

Although the ATM indicated that the transaction had failed, the funds were still made available.

According to Mail Online, Saunders soon realized he could repeatedly access what he described as “free money” by transferring funds from his credit account to his savings account whenever the ATM network went offline for its nightly maintenance.

Over the following four months, he spent the money on private jet trips, fine dining, luxury hotels, limousine rides, champagne, and gambling.

He later turned himself in to authorities and was charged with 111 fraud- and theft-related offences.

Saunders served 12 months in prison before returning to work as a bartender, where he earned $22 an hour.

His story later inspired the 2024 film ATM Boy, and he recently reflected on the experience during an episode of SBS Insight scheduled to air on Tuesday night.