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In Canada: FACTOR to ‘Vigorously’ Pursue Recovery of Stolen Funds After Alleged $9.8M Cyber Theft
FACTOR Canada, which distributes millions in funding to Canadian artists, claims that $9.8 million was stolen from a Scotiabank account this year.
Court filings by the music funding body, The Foundation Assisting Canadian Talent on Recordings, reveal claims that $9.8 million was stolen from a Scotiabank account earlier this year. “It is true that FACTOR has been a victim of a significant financial crime that occurred on June 12, 2024, by way of a one-time fraudulent wire from our Scotiabank account on ScotiaConnect in the amount of $9,772,875.33,” the statement reads. After Kendrick Lamar released his new album but before news broke of Drake’s two different legal actions against his parent label Universal Music Group and Spotify, the rapper joined Quebecois streamer xQc for a livestream on Kick on Sunday (Nov. 24).
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