Fraud
Fraud refers to dishonest and illegal activities by people or companies with the intent of gain, either financial or otherwise. The following fraud reports, fraud news and articles about fraud look at the day-to-day challenges of preventing, identifying and mitigating fraud.
Miller & Chevalier: 2020 Latin America Corruption Survey
Over the last decade, Latin America has been the epicenter of anti-corruption enforcement, with high-profile investigations, political and business leaders behind bars and improved laws in key jurisdictions. But new data reveals that corruption risk is at an all-time high...
Compliance Alone Won’t Prevent Wirecard-Like Scandals
Allegations of financial misconduct dogged German payment processing giant Wirecard AG since its inception; why did it take so long to uncover the fraud? Michael Toebe muses here about the perils of ego and unchecked greed. Wirecard's gross financial misconduct...
Shining a Light on Our AML Failings
The answer to being more effective at stopping money launderers is to challenge the value of processes that are clearly failing. Financial crime expert Martin Woods explains. Earlier this year, David Lewis, the Executive Secretary of the Financial Action Task...
The Forgotten Fraud Risk on the Rise During COVID-19
Much of the fraud reported on of late has been perpetrated by third parties, but financial crime officer Casey Pozarowszczyk explains the real – and rising – risk of first-party fraud during the pandemic and while employees continue to work...
Employee Satisfaction and the Impact on Corporate Fraud
There are a number of factors impacting employee satisfaction – among them the recession and organizations’ increased reliance on remote work. ERP Maestro’s Jody Paterson discusses how employee engagement and fraud are related. The frequency of insider incidents – namely...
Farewell to Blue Bell
Once, Blue Bell Ice Cream was the pride of Texas. But a 2015 listeriosis outbreak in "the little creamery in Brenham" revealed board-level contamination of a different sort. Unethical practices were uncovered, criminal charges were brought and the failures of...
Investigating Fraud in a COVID-19 World: A Targeted Response Helps
Fraud levels increase in times of economic distress, and the global pandemic is creating a once-in-a-lifetime opportunity for financially rewarding mischief. H5’s Sheila Mackay discusses what companies can do to quickly identify and prevent fraud. The Brewing Storm As companies...
Is COVID-19 Infecting Your Internal Control over Financial Reporting?
The COVID-19 pandemic has triggered rapid changes to business processes, not least of which has been the widespread migration of employees to remote working arrangements. Kral Ussery partner Michael Ussery explores what impacts these business processes changes might have on...
Future-Proofing FinCrime Compliance Against Disasters
The banking sector is facing a dire situation with respect to rising fraud and money laundering amid the coronavirus pandemic. Sujata Dasgupta explores how COVID-19 is impacting fincrime compliance (FCC) and shares strategies financial institutions can employ to protect their...
COVID-19: DOJ’s Aggressive Prosecution of Fraud and Pandemic-Related Crimes
Hard times bring out the best and the worst in people. It’s the worst the Department of Justice is concerned with. Michael Volkov discusses what the DOJ is doing to focus on fraudsters preying on public panic in response to...
Takeaways from the DOJ’s 2019 False Claims Act Report
The DOJ recently released its annual report on False Claims Act enforcement, and FCA enforcement shows no signs of slowing. Bass, Berry & Sims’ Taylor Chenery, Lauren Gaffney and Anna Grizzle discuss what the report reveals. 2020 marks the 150th...
What Fraud Could Be Lurking in Your Expense Reports?
What happens when employees add a few out-of-policy expenses? If reports are reviewed manually, these items might slip right on through, but an AI solution can help flag them. Anant Kale and Josephine McCann of AppZen highlight some of the...
