Kinsmen theft

The theft of about $20 000 from the Kinsmen playground fund is old news by now. Allegedly stolen by the Treasurer via cheques with forged signatures.

One question only...does the Kinsmen Club not have a co-signer for cheques? Every organization..big and small..including schools etc. have TWO people signing cheques and making financial decisions. Odd that this did not occur within the Kinsmen Club.

maybe the second signature was forged.

...if the son-of-a-biotch is willing to forge one signature, I'm sure he wouldn't have any problem doing two.

a note worth keeping in mind re cheques >> you cannot expect your bank to keep an eye on all the cheques you put thru your account, for signatures, dates, body & number differences, etc. Unless your account is given a "special" status where there are financing issues, or there are stop-payments issued, all cheques clear the account automatically. Years ago, the banks' clerical staff manually check everything going thru, but with current automation, that does not happen any more.

I have personally seen, over the years, post dated cheques, cheques with no sigs, and cheques encoded incorrectly (even with $10,000 over charge to the client, at one of the Simcoe banks, about 20 years ago) clear accounts.

It is up to you, the customer, to monitor your accounts - the banks will not be your bookkeeper.

There are 2 separate signatures required......one being the former treasurer's, and the second being the forged signature. In most cases, the treasurer usually does have signing authority.

Inanimate Carbon Rod wrote:

a note worth keeping in mind re cheques >> you cannot expect your bank to keep an eye on all the cheques you put thru your account, for signatures, dates, body & number differences, etc. Unless your account is given a "special" status where there are financing issues, or there are stop-payments issued, all cheques clear the account automatically. Years ago, the banks' clerical staff manually check everything going thru, but with current automation, that does not happen any more.

I have personally seen, over the years, post dated cheques, cheques with no sigs, and cheques encoded incorrectly (even with $10,000 over charge to the client, at one of the Simcoe banks, about 20 years ago) clear accounts.

It is up to you, the customer, to monitor your accounts - the banks will not be your bookkeeper.

That's so true. I know someone who had cheques forged and most of them were "obviously" a forgery and others had no date, the amounts didn't match, etc. The good old days the tellers had time to review them all. In this particular case the bank did reimburse the "injured party"

About 10 years ago I mailed out some monthly bills with cheques enclosed for payment. For some reason I didn't sign any of them, duh! About a week later got a call to come to the bank and sign them. Money was already out of the account. So it really didn't make much sense to have to sign them after the fact!!!