Fraud

Evidence of Widespread Consumer Finance Violations Mounts On July 21, 2017, OSHA determined that Wells Fargo had unlawfully retaliated against a former branch manager who reported her colleagues for fraudulently opening customer accounts. The announcement marks the most recent in a series...

A Digital Transformation Increased sophistication in technology platforms, banking channels and digital initiatives has ushered in transformation in the banking industry. But these changes have also brought about increasingly sophisticated financial crimes. Bank fraud is now being committed by tech...

Compliance departments already monitor emails for nefarious keywords, but expecting even the biggest compliance departments to monitor all communication in real time is arduous and nearly impossible using only human capital. Unless they’re using artificial intelligence.

Results from Kroll’s annual Global Fraud and Risk Report are in, and the findings show a significant rise in fraud and risk incidents over the past year. A staggering 88 percent of respondent U.S. companies reported cyberattacks in the past...

Failing to quash fraud schemes rampant in its organization and among its high-volume agents, Western Union is $770 million poorer this year. The organization’s prosecution sends an important message to financial service providers: when an organization facilitates criminal activity through...

Rolls-Royce Settlement Highlights Risks for Businesses Rolls-Royce recently completed a deferred prosecution agreement following a four-year investigation into bribery and corruption by the U.K. Serious Fraud Office. This is the largest ever enforcement action against a company for criminal conduct,...

How Companies Can Reduce Their Risk Exposure Fraud is a problem for companies of every size – one statistic states that it claims up to 10 percent of annual revenue. Some fraudulent activity comes from external sources, including cyber breaches...

Technological advancements have caused an increase in the number of opportunities to commit fraud – and they’ve created innovative new ways to perpetrate and hide it. As a result, there has been an uptick in reported incidents over the past...

Reputational harm can do as much damage to a company's bottom line as nearly any other crisis. A proactive plan is essential to protect the organization should it come under fire. Silicon Valley based Theranos has found this out the...

There are basically three varieties of corporate scandal. Volkswagen may have the dubious distinction of having pioneered a fourth, however. VW's emissions-testing scandal is result of its top leadership and senior engineers intentionally deceiving the public. This was no slow...

Volkswagen's emissions scandal will cost the company dearly; knowingly misleading the world about the quality of one of your key products will do that. The company's previously solid reputation is now sullied, but is the damage beyond repair? This scandal...

Construction is now underway on Azerbaijan's Southern Gas Corridor, and one of the primary entities behind the development has been under the microscope for alleged corruption and bribery in its dealings in the oil and gas industry in the region....