Fraudulent incident costs Shuswap community $44,536
The village recovered 83% of the misdirected funds after a routine supplier payment was redirected to unauthorized bank accounts, officials said.
- The Village of Chase recently lost $44,536 to fraud after a payment intended for a supplier was redirected to unauthorized bank accounts.
- During a routine payment to a supplier for completed work, the fraudulent incident occurred, according to a media release from the Village.
- With the assistance of legal counsel, the Village successfully recovered 83 per cent of the misdirected funds, significantly limiting the financial damage.
- New internal procedures are being implemented by the Village based on auditor and financial institution recommendations to prevent similar fraudulent incidents.
- A recent audit is nearing completion, with findings expected to strengthen the Village's financial controls and safeguard against future payment fraud.
6 Articles
6 Articles
Fraudulent incident costs Shuswap community $44,536 - Creston Valley Advance
The Village of Chase is tightening procedures after losing over $44,000 to fraud. In a media release, the village announced an incident had occurred recently, resulting in a financial loss, though they were able to mitigate the damage. “During a routine payment to a supplier for completed work, the payment was fraudulently redirected to unauthorized bank accounts,” the release states. “With the assistance of legal counsel, the Village was able t…
Fraudulent incident costs Shuswap community $44,536 - Fort St. James Caledonia Courier
The Village of Chase is tightening procedures after losing over $44,000 to fraud. In a media release, the village announced an incident had occurred recently, resulting in a financial loss, though they were able to mitigate the damage. “During a routine payment to a supplier for completed work, the payment was fraudulently redirected to unauthorized bank accounts,” the release states. “With the assistance of legal counsel, the Village was able t…
Fraudulent incident costs Shuswap community $44,536 - Grand Forks Gazette
The Village of Chase is tightening procedures after losing over $44,000 to fraud. In a media release, the village announced an incident had occurred recently, resulting in a financial loss, though they were able to mitigate the damage. “During a routine payment to a supplier for completed work, the payment was fraudulently redirected to unauthorized bank accounts,” the release states. “With the assistance of legal counsel, the Village was able t…
Fraudulent incident costs Shuswap community $44,536 - Vanderhoof Omineca Express
The Village of Chase is tightening procedures after losing over $44,000 to fraud. In a media release, the village announced an incident had occurred recently, resulting in a financial loss, though they were able to mitigate the damage. “During a routine payment to a supplier for completed work, the payment was fraudulently redirected to unauthorized bank accounts,” the release states. “With the assistance of legal counsel, the Village was able t…
Fraudulent incident costs Shuswap community $44,536 - Northern Sentinel
The Village of Chase is tightening procedures after losing over $44,000 to fraud. In a media release, the village announced an incident had occurred recently, resulting in a financial loss, though they were able to mitigate the damage. “During a routine payment to a supplier for completed work, the payment was fraudulently redirected to unauthorized bank accounts,” the release states. “With the assistance of legal counsel, the Village was able t…
Fraudulent incident costs Shuswap community $44,536
The Village of Chase is tightening procedures after losing over $44,000 to fraud. In a media release, the village announced an incident had occurred recently, resulting in a financial loss, though they were able to mitigate the damage. “During a routine payment to a supplier for completed work, the payment was fraudulently redirected to unauthorized bank accounts,” the release states. “With the assistance of legal counsel, the Village was able t…
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