All Fraud articles – Page 6

  • Article

    Lost in fraud translation

    2017-02-22T11:00:00Z

    Paul Hodgson explores the case of Jacques de Groote, the 90-year-old former CEO of the World Bank and director of the International Monetary Fund, who has spent the last decade in court battling allegations of fraud and corruption.

  • Blog

    Massive fraud at BT Italia—the work of a few rogue employees?

    2017-02-05T20:30:00Z

    The BT Italia scandal involved failures at all three levels of defense in the fraud arena: management, internal audit, and outside auditors. The Man From FCPA Tom Fox explores.

  • Blog

    VW: Fraud at the top?

    2017-01-30T09:30:00Z

    More bad news for Volkswagen, as German authorities have expanded their investigation to 37 individuals from 21, including former CEO Martin Winterkorn. Tom Fox reports.

  • Blog

    Combatting fraud is ‘serious business’ at the SFO

    2017-01-24T15:00:00Z

    DeAnn Orie looks at how companies can fall under the watchful eye of the Serious Fraud Office and what the agency is doing to keep on top of crime.

  • Article

    Churchill Mining loses $1.3bn fraud claim against Indonesian government

    2017-01-24T14:00:00Z

    Neil Hodge explores the case of London-based Churchill Mining, which lost its compensation claim against the Indonesian government, after alleging its Indonesian business partner had forged documents. An international tribunal ruled against Churchill, citing inadequate due diligence and other unheeded red flags.

  • Blog

    IMF’s Christine Lagarde convicted of financial negligence

    2017-01-11T09:15:00Z

    French court says Lagarde was “negligent” for failing to appeal arbitration award to former Mitterrand-era minister, writes Neil Hodge.

  • Blog

    EY agrees to $11.8 million settlement with SEC on failed audits

    2016-10-18T17:45:00Z

    EY has agreed to pay $11.8 million to settle more charges from the SEC. This time the firm and two auditors are accused of ignoring red flags, enabling fraud. Tammy Whitehouse reports.

  • Blog

    COSO issues new fraud risk management guide

    2016-09-28T08:15:00Z

    COSO, author of the most widely accepted internal control framework in the United States has released a new guide meant to help companies beef up their fraud risk management. More from Tammy Whitehouse.

  • Blog

    All is not well at Wells

    2016-09-27T15:30:00Z

    Stephen Davis and Jon Lukomnik examine the fallout from the Wells Fargo scandal, delving into what could have been done better by management and offering some tips for other companies, read: banks, to avoid the same fate.

  • Article

    Wells Fargo CEO faces bipartisan furor

    2016-09-27T10:15:00Z

    You know you are having a horrible week when complaints against your company unite Democrats and Republicans, but that’s exactly what Wells Fargo CEO John Stumpf faced

  • Article

    SFO investigates Airbus for fraud, bribery, and corruption

    2016-09-20T12:30:00Z

    Five years after the Bribery Act, the Serious Fraud Office has yet to produce a major conviction. Will Airbus—the latest aerospace company under investigation—be its first big collar? Neil Hodge reports.

  • Blog

    State Street to pay $382 million for foreign currency exchange fraud

    2016-07-28T12:30:00Z

    State Street Bank and Trust Company has agreed to pay a total of $382.4 million to the United States to resolve allegations that it deceived some of its custody clients when providing them with indirect foreign currency exchange (FX) services. Jaclyn Jaeger reports.

  • Blog

    SFO conducting criminal probe into Unaoil

    2016-07-22T12:45:00Z

    The U.K. Serious Fraud Office confirmed this week that it is conducting a criminal investigation into the activities of Unaoil, its officers, employees and agents in connection with suspected offences of bribery, corruption and money laundering. Jaclyn Jaeger reports.

  • Blog

    Fraudsters have tech edge over companies, KPMG study shows

    2016-06-01T13:15:00Z

    A study from KPMG that looks at fraudster’s typical profile says perpetrators are gaining an edge over corporate anti-fraud controls by making better use of technology than the companies they route. The report says weak controls were a factor in 61 percent of frauds through 2016. More study details from ...

  • Article

    How not to be sanctioned by the World Bank

    2016-05-03T11:15:00Z

    Justice Dept. enforcement actions for anti-corruption law violations often garner the most attention, but multilateral development banks are also major players in the anti-corruption global arena, adding more compliance risk. CW’s Jaclyn Jaeger on how to avoid being sanctioned.

  • Article

    How employee hotlines can improve organizational well-being

    2016-03-31T10:00:00Z

    According to the CDC, in 1965 more than forty percent of the U.S. population smoked. After decades of persistent education, the general population has come to realize that best practices include healthy decisions; decisions that increase well-being and reduce expenses. Today, less than twenty percent of the population are smokers ...

  • Blog

    German World Cup bid now under FIFA scrutiny

    2016-03-30T11:15:00Z

    The ongoing FIFA corruption scandal takes on new life as some of the top names in German soccer, as well as sports apparel manufacturer Adidas, appear to be implicated in the 2006 World Cup bid. CW’s Tom Fox reports on this latest ethics investigation.

  • Blog

    The Mast Brothers Meltdown

    2015-12-30T15:45:00Z

    For years, Mast Brothers, a brand of high-end, artisanal bean-to-bar chocolate, has proven to be an unlikely success story, making small batches of expensive chocolate bars from its humble operation in the heart of the hipster world—the Williamsburg neighborhood of Brooklyn, New York. But when Dallas-based food writer Scott Craig ...

  • Article

    U.S. and U.K. Treasury Revisit AML Risks

    2015-12-08T15:45:00Z

    Image: For the first time in 10 years in the United States—and for the first time ever in the United Kingdom—financial institutions have some much-needed insight into how these two countries intend to prioritize money laundering and terrorist financing risks, enabling compliance officers to better allocate their limited resources. “These ...

  • Article

    AML Regulations in NY Force CCOs to Rethink Everything

    2015-12-08T14:45:00Z

    Earlier this month New York officials proposed new anti-money laundering regulations for financial institutions that fall under that state’s regulatory regime and supervision—which pretty much includes every major international bank in the world. Along with heightened demands for monitoring programs that detect money laundering red flags, the requirements seek to ...