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Digital Payment Platforms May Be Secretly Routing Your Building's Money
Manage episode 488387894 series 3397088
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Think your digital payment system is safely depositing maintenance fees directly into your building's account? Think again. This eye-opening episode reveals how a Queens co-op discovered their payments were making mysterious detours through unauthorized intermediary accounts before reaching their bank.
Carl Cesarano, managing shareholder at the auditing and accounting firm Cesarano & Khan, exposes the hidden risks lurking in popular payment platforms. You'll learn why that convenient digital system might actually be creating dangerous blind spots in your financial oversight, how these payment delays can wreck your building's cash flow planning, and what red flags to watch for when reviewing your bank statements.
Whether you're a treasurer trying to track down missing payments or a board member wondering why your budget projections keep falling short, this episode delivers the insider knowledge you need to protect your building's finances. Habitat's Emily Myers conducts the interview.
Thanks for listening. Subscribe to this podcast for more stories on how New York co-ops and condos have solved a myriad of problems. Brought to you by Habitat Magazine, the "bible" that hundreds of board directors turn to every day!
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