Saskatoon’s City Manager Jeff Jorgenson says $1.04-million was paid to fraudsters on Monday. An imposter asked for the change of banking information for a company. The banks, Saskatoon Police and the City’s internal auditor are working on getting the funds back. They are cautiously optimistic that they will be able to recover a significant portion of the money.

Jorgenson says they are letting everyone know to be transparent and to give other businesses and corporations the heads up to be extra diligent. The fraudster took over digital identification of a local construction company the City works with and the City paid out the funds. We will have more detail later this afternoon.