CTV News - Canada reported:
In a loss report published Monday, the Saskatchewan Housing Corporation (SHC) reported the update to its 2023-24 report. The misappropriation of funds from 2019 to June 2023 included payments made to a fake vendor for work orders that were not completed.
In a loss report published Monday, the Saskatchewan Housing Corporation (SHC) reported the update to its 2023-24 report. The misappropriation of funds from 2019 to June 2023 included payments made to a fake vendor for work orders that were not completed.
Find the original article and other fraud losses here.
Takeway: Add compensating internal controls to prevent internal fraudsters from creating fake accounts for payments. This can includes management approval of new vendor accounts, and reviewing the payments against the given list.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat
Takeway: Add compensating internal controls to prevent internal fraudsters from creating fake accounts for payments. This can includes management approval of new vendor accounts, and reviewing the payments against the given list.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat