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posted by Fnord666 on Friday September 13 2019, @10:56AM   Printer-friendly
from the who-needs-a-payroll dept.

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.


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  • (Score: 2) by legont on Saturday September 14 2019, @02:08AM

    by legont (4179) on Saturday September 14 2019, @02:08AM (#893952)

    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.
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