Uncover critical control weaknesses and shocking oversights that enabled Canada’s largest gold heist. Learn to fortify systems and identify fraud risks by analyzing this high-stakes case.
This case study examines Canada's largest gold heist, which occurred at Toronto Pearson International Airport on April 17, 2023, involving the theft of approximately 6,600 gold bars and foreign currency valued at more than C$20 million.
The course analyzes how a sophisticated fraud scheme exploited critical document verification failures, segregation-of-duties violations, and insider threats within Air Canada's cargo operations. It focuses on the role of acting supervisor Simran Panesar, who used his access to inventory systems and waybill printers to facilitate the theft.
Through detailed examination of how thieves used a fraudulent waybill—created by altering a legitimate seafood shipping document—to steal US$15 million worth of assets in just 53 minutes, accounting professionals will learn to identify control weaknesses, recognize insider threat indicators, and apply fraud prevention strategies to protect high-value assets and prevent similar occupational fraud schemes in their organizations.
Key learning outcomes include:
By examining this elaborate scheme, you'll not only understand where breakdowns occurred but also how to fortify systems against similar threats. Prepare to uncover the details that demonstrate how a seemingly "boring" waybill became the ultimate key to a multi-million-dollar gold heist, and why vigilance in ethical practices is paramount.
Founder of Sheriff Consulting
I am the founder of Sheriff Consulting which specializes in the development and delivery of accounting, auditing and foundational skill courses and workshops. Teaching and working with professionals in diverse and dynamic learning environments has been my passion and experience for over 10 years. As a qualified Canadian Chartered Professional Accountant (CPA, CA) and U.S. Certified Public Accountant (CPA), I work with finance and accounting professionals in both the U.S. and Canada to meet their training and development needs. My goal has always been to create an engaging and interactive learning environment. To help my own path of continual improvement in achieving this goal, I have also received training and worked as a professional actor. I am a member of ACTRA (the Alliance of Canadian Cinema, Television and Radio Artists) and a graduate in improvisation from the Second City Training Centre. http://sheriffconsulting.com/
