Business Left Counting Cost of International Payroll Blunder
International payroll security was in the news again this week as a Chilean worker who was overpaid by more than €165,000 has absconded with the cash.
The employee who worked for Consorcio Industrial de Alimentos (Cial), one of Chile’s best known meat processors was accidentally s 165,398,851 Chilean pesos (€169,105) instead of his usual take-home pay of 500,000 Chilean pesos (€515).
An employee from within the organisation’s admin department noticed the error, and alerted management to the oversight. When the overpaid worker was notified of the error he initially agreed to go to the bank the following day and return the money to Cial. However, since then he has handed in his letter of resignation, withdrawn all the money from his account and he has not been seen since.
To date, no arrests have been made in connection with the incident. But the company who overpaid have charged the ex-employee with misappropriation of funds, and have hired lawyers to try and retrieve the money.
News of the overpayment has raised alarm amongst many multinational organisations and brought about a renewed focus on payroll processes and accuracy.
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