https://www.thestar.com/news/crime/...ployee-accused-of-stealing-from-accounts?bn=1
A former bank employee has been arrested after police say 31 seniors across Canada, including many in the GTA, were defrauded of almost $206,000. The Canadian Imperial Bank of Commerce has reimbursed all the victims, but police say they haven’t recovered any of the stolen money. Police say the case involves unauthorized withdrawals from 43 different CIBC accounts between 2002 and 2007, when the suspect retired.
They allege that several clients’ mailing addresses were changed to prevent the victims from receiving withdrawal notifications and bank statements through the mail. The fraud was “crafty” in that money was taken in small amounts to evade detection, Det. Const. Niki Laxamana said, noting that “there was nothing to raise red flags.”
Investigators believe that a total of $205,849.96 was taken from registered income funds, life income funds and registered savings plans. The victims ranged in age from 60 to 85, and only seniors were targeted. “It was very upsetting for seniors to find this out,” Laxamana said. “These are people who are looking for ways to stretch their savings.”
Laxamana said the police investigation began in January 2010 after one customer noticed something suspicious and notified the bank. CIBC called in the police after doing a “thorough investigation” of its own, Laxamana said, adding that the person who took the money “took several steps to avoid detection.”
None of the seniors wanted to be identified. Police don’t believe there are any more victims, and believe the fraudster was acting alone. Investigators will not say where they think the money ended up or how it was spent.
Alicia Canlas, 59, of Toronto, has been charged with fraud and laundering the proceeds of crime. Canlas made a court appearance on Feb. 8 and appears next on March 21.
Police advise bank customers to check their statements monthly, and to contact the bank about any discrepancies or missing statements.
A former bank employee has been arrested after police say 31 seniors across Canada, including many in the GTA, were defrauded of almost $206,000. The Canadian Imperial Bank of Commerce has reimbursed all the victims, but police say they haven’t recovered any of the stolen money. Police say the case involves unauthorized withdrawals from 43 different CIBC accounts between 2002 and 2007, when the suspect retired.
They allege that several clients’ mailing addresses were changed to prevent the victims from receiving withdrawal notifications and bank statements through the mail. The fraud was “crafty” in that money was taken in small amounts to evade detection, Det. Const. Niki Laxamana said, noting that “there was nothing to raise red flags.”
Investigators believe that a total of $205,849.96 was taken from registered income funds, life income funds and registered savings plans. The victims ranged in age from 60 to 85, and only seniors were targeted. “It was very upsetting for seniors to find this out,” Laxamana said. “These are people who are looking for ways to stretch their savings.”
Laxamana said the police investigation began in January 2010 after one customer noticed something suspicious and notified the bank. CIBC called in the police after doing a “thorough investigation” of its own, Laxamana said, adding that the person who took the money “took several steps to avoid detection.”
None of the seniors wanted to be identified. Police don’t believe there are any more victims, and believe the fraudster was acting alone. Investigators will not say where they think the money ended up or how it was spent.
Alicia Canlas, 59, of Toronto, has been charged with fraud and laundering the proceeds of crime. Canlas made a court appearance on Feb. 8 and appears next on March 21.
Police advise bank customers to check their statements monthly, and to contact the bank about any discrepancies or missing statements.
