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NY Payroll Company Vanishes With $35 Million
This communique came after employees at companies that depend on MyPayrollHR to receive direct deposits of their bi-weekly payroll payments discovered their bank accounts were instead debited for the amounts they would normally expect to accrue in a given pay period.
To make matters worse, many of those employees found their accounts had been dinged for two payroll periods — a month’s worth of wages —leaving their bank accounts dangerously in the red.
The remainder of this post is a deep-dive into what we know so far about what transpired, and how such an occurrence might be prevented in the future for other payroll processing firms.
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NY Payroll Company Vanishes With $35 Million
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The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
I don't want a pickle,
I just wanna ride on my motorsickle.
And I don't want to die,
I just want to ride on my motorcy.
Cle.
-- Arlo Guthrie
(Score: 2) by RedGreen on Friday September 13 2019, @02:32PM (3 children)
"Besides that, what possible advantage can there be to having your payroll company be able to withdraw money from your account? That is literally insane, I would never give that right to anyone, ever, in any circumstance, for this very reason."
None at all and I really fail to see how they got the permission to withdraw the money to start with. Here in Canada for that to happen you have to give permission to have money withdrawn from your account and then you must fill in the maximum amount that is permissible for that transaction on that form you fill out. That must be signed by you in person in front of an officer of the bank who witnesses it with their signature, no electronic submissions allowed, except by fax which is legally binding for other matters not this though.
"I modded down, down, down, and the flames went higher." -- Sven Olsen
(Score: 2) by RS3 on Saturday September 14 2019, @03:45AM (2 children)
Do you guys have room for one more?
(Score: 2) by RedGreen on Sunday September 15 2019, @05:15PM (1 child)
"Do you guys have room for one more?"
Sure do come on by, though by the time you start paying the taxes you may regret it...
"I modded down, down, down, and the flames went higher." -- Sven Olsen
(Score: 2) by RS3 on Monday September 16 2019, @12:08AM
I'll live mostly on a barter system.