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 to recover 83 per cent of the misdirected funds. The financial loss to the Village totals $44,536.”
A recent audit is nearing completion and, based of the recommendations by the auditors and the village’s financial institution, more internal procedures have been implemented to prevent this type of incident in the future.
Read more: North Shuswap business owner beats $11K fine for alleged liquor licence contravention