St.Catharines Hydro fraud investigation continues
An investigation into the apparent phishing fraud of St. Catharines Hydro is continuing.
At a board meeting las week, the board received a presentation from KPMG on the preliminary findings of the investigation of a cyber fraud incident which defrauded the corporation of more than $655,000 in December 2016.
Based on the information provided, the board agreed to proceed with a second phase forensic audit by KPMG.
The investigation is in addition to the on-going investigation by Niagara Regional Police.
Mark Steinman, a member of the board, will continue to oversee the investigation until the completion of the criminal and internal investigations.
Measures have been put in place to prevent any further incidents.
St. Catharines Hydro is a holding company for the subsidiary St. Catharines Hydro Generation, which operates the Heywood Generating Station. It is wholly owned by the City of St. Catharines, and is a shareholder in Horizon Utilities Corporation.