Dozens of Quebec entrepreneurs have the impression of being abandoned by the National Bank for a month. They were robbed of hundreds of thousands of dollars by hackers and experience an ordeal when the time comes to get reimbursed.
The bank refuses to say more, but assures that it is not someone from the inside who is guilty. She also often refuses to reimburse her customers, who find themselves in deep trouble.
“There is no indication that this is internal fraud. A few dozen business customers were victims of the schemes. Our teams are in contact with them,” confirmed to Newspaper Alexandre Guay, spokesperson for the National Bank.
The Sûreté du Québec has received complaints since at least September 18 on this subject, but refuses to confirm that an investigation is underway.
“A police officer contacted us. As usual, our teams are fully collaborating,” says Mr. Guay.
In Beauce alone, at least three companies were wiped out at once. It is their National Bank current account that is targeted.
One of these three entrepreneurs lost $250,000 on September 14. He refuses to have his name published in the newspaper because of the impact it could have on his clients.
In Montreal, Pascal Gosset, from Muze, was robbed of $60,000 on September 14. His company sells and buys electric vehicles.
Pascal Gosset is the entrepreneur behind the Muze company.
photo taken from the Muze website
“I realized on the morning of September 18 that my account was empty. Since then, the bank has been fooling me. They say they are investigating and refuse to refund me. I’m losing everything,” he said.
Modus operandi
The hackers’ modus operandi is always the same: the entrepreneur logs into his account only to realize that it has been emptied, or almost empty.
They operate using bank transfers at lightning speed, always between 11 p.m. and midnight. Fifteen transactions in 5 minutes, for example, and poof, hundreds of thousands of dollars gone.
“It’s weird. That a sum of $250,000 be transferred without questions? The bank has questions to ask itself,” says a cybersecurity expert, Steve Waterhouse.
For this former deputy minister responsible for government information security in Quebec, it is the way of making bank transfers that must be reviewed.
“There aren’t enough questions asked about the legitimacy of the person making a funds transfer request,” he says.
There are bad business practices to be corrected within all banks, according to him.
One thing is certain: all these entrepreneurs are victims of fraud and should not have to pay a penny, argues Steve Waterhouse.
Ongoing investigation
Nationale would always respond the same thing to victims, according to those we spoke to: we will reimburse you for the amounts we are able to recover.
Pardon? respond the entrepreneurs, insulted. They can barely keep their businesses afloat, they don’t have a single dollar left, and they can’t pay their suppliers. They are ridiculed in front of their customers, their reputation is tarnished.
However, they are victims of fraud. “I put my money with them, because I have confidence. But I realize that my money is not safe,” says Steve Boivin.
The owner of Auto Tech Steve Boivin & Fils, a mechanic workshop in Sainte-Foy, Quebec, was robbed of $75,000 on September 20.
Since then, he has had virtually no news from the bank, which says it is carrying out its investigation, says Mr. Boivin.
Entrepreneurs on their knees
“The bank doesn’t care about us at all,” says Pascal Gosset, who had to withdraw RRSPs to keep his business alive instead of going bankrupt.
The person who had $250,000 stolen was offered $125,000 by the National Bank. He also had to sign a release.
“I almost said yes, I don’t have a penny left. But I said no. My business has no debt. They offer me 50 cents on the pile, and the debt. No thanks. I want my money, all my money.”
In short, he refuses to take responsibility for the fraud, which falls on the bank, according to him.
An employee of the National Bank even said to him: “You know sir, the hackers are always a little ahead of us.”
Why do you charge your customers? he wanted to answer her.
Almost a month after the events, the bank accounts of the targeted companies are still empty.
“We are still waiting for a response. It’s unbelievable how long the last month seemed to me,” breathes Pascal Gosset, exhausted.
– With the collaboration of Francis Halin