Simplii Financial controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2025
Surrey sues CIBC's Simplii Financial and Coast Capital Savings over $2.5 million fraud loss
Lawsuit filed
The City of Surrey filed a lawsuit in B.C. Supreme Court on Dec. 23 against CIBC's Simplii Financial division and Coast Capital Savings Federal Credit Union, alleging the financial institutions allowed the conversion of cheques altered by a former city finance clerk to defraud the city of more than $2.5 million between 2017 and 2024. The allegations have not been proven in court and the financial institutions have yet to file a statement of defence.
Stated objective. to recoup $2.5 million lost through fake cheques
Source excerpt
The lawsuit, filed on Dec. 23 in B.C. Supreme Court against CIBC’s Simplii Financial division and Coast Capital Savings Federal Credit Union, alleges the two financial institutions allowed the “conversion” of cheques altered by the former employee to defraud the city.
The City of Surrey has filed a new lawsuit to recoup $2.5 million lost through fake cheques allegedly written by an ex-employee to herself.
It is alleged that the former employee, a long-time clerk in the city’s finance department, issued 183 cheques totalling more than $2.5 million between 2017 and 2024 to herself, her mother and to her part-time cake-decorating business.