Submitted via IRC for SoyCow2718
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.
(Score: 2) by hemocyanin on Friday September 13 2019, @10:23PM
Maybe. When I want cash I go to my bank, ask for a counter check, write in my name, account number, amount, and make it out to cash. Then they give me cash and only my bank has the check -- anyone at the bank is supremely capable of messing with any account they want so I don't see that as excessively risky. I haven't had a debit card in maybe 20 years now. I get that there are protections of some sort when you use one, but the problem starts with your account getting being debited and you trying to get that fixed. Just seemed like an unnecessary risk to me. For card based transactions I use a credit card -- that way if someone uses it illegally, the problem starts at the bank and while a hassle, at least I still have all my cash in the meantime.