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 legont on Saturday September 14 2019, @02:08AM
Just remember the definition: "money is a commodity used for exchange". Commodity. Something evenly useful for everybody in regular life. Everything else around is rust and stardust.
"Wealth is the relentless enemy of understanding" - John Kenneth Galbraith.