A Camden National Bank security group discovered on Oct. 16 an employee engaged in “a series of improper and unauthorized transactions” that amounted to approximately $850,000.
Diane Norton, Vice President of Marketing and Communications for Camden National Corporation, said they can’t reveal the branch, but the incident is limited to one location and one employee involved in the transactions.
Norton said a customer called over a concern with her account and an employee looked into the matter. The employee then discovered there was something “that didn’t look quite right.” Norton said she could not go into further detail as the incident is currently under investigation.
An Oct 27 press release stated the company is communicating with its insurance carrier and no determination has been made as to whether any amounts will be considered as a loss.
“We definitely want to assure our customers their information and deposits are secure,” Norton said.
The company is working with authorities from the Federal Bureau of Investigation to resolve the matter and is trying to recover the funds.
