Your Neighbourhood Credit Union (YNCU) is taking steps to protect and reimburse customers after they lost money from their accounts in a hacking incident that took place Friday evening.
The YNCU branch on Bay Street will be open from 10 a.m. to 3 p.m. Monday to assist customers.
The Trunk Road branch will be open at 9:30 a.m. Tuesday.
Several YNCU customers who lost money voiced their concern in social media posts Saturday.
“I went on Facebook this morning and saw Keeping The Soo Safe and I saw the post. I checked my account and there was a charge of close to $600 to my account from Health Setting LLC in Renton WA,” said YNCU customer Kim Liepa in a phone interview with SooToday.
“I was very upset,” said YNCU customer Louise Nichols.
Nichols said she was charged twice by Health Setting LLC in Renton WA and lost approximately $1,000.
“I thought we’re supposed to be safe at the bank…
PAYROLL & HR CONTROLS (PREVENTING “GHOST” SCHEMES)
Payroll fraud is often the hardest to detect because it “looks” like a normal business expense.
- Segregation of Duties (SoD): The person who adds new employees to the system must not be the same person who approves the monthly pay run.
- Mandatory Vacation Policy: Require all financial and HR staff to take 5–10 consecutive days of leave annually. Fraud often surfaces when the perpetrator isn’t there to “hide” the trail.
- Ghost Employee Audit: Perform a quarterly “Headcount Reconciliation” where managers must physically verify every name on their payroll list exists.
- Self-Pay Blocking: Ensure the payroll software has a hard-coded block preventing administrators from editing their own salary or bank details.