Four Myths Businesses Love Telling
An article on INC.com points out four things that companies love to say about themselves, but generally amount to a "pleasant myth." They're called myths, says INC, because while businesses may repeat...
View ArticleMaking Counterfeit Cash Easier Than Ever
Like any industry, crime has a way of adapting to new technologies. Take counterfeit money, for example. Back in the day, if you wanted a sheet of fake $100 bills, you'd need all sorts of equipment,...
View ArticleSEC: Deloitte CRO Got Loans from Client
Deloitte's Chief Risk Officer has been charged by the SEC for violations of auditor independence rules in connection with interactions with a casino client.read more
View ArticleTotal Fraud Costs: $3.7 Trillion Worldwide
It's estimated that fraud costs the entire world about $3.7 trillion in lost revenues every year, according to Compliance Week, or about five percent of all annual revenue per year.read more
View ArticleMadoff's Accountant to Plead Guilty
Paul Konigsberg, a former accountant with links to notorious swindler Bernie Madoff, is expected to plead guilty to charges of two counts of conspiracy and three counts of falsifying records and...
View ArticleStudy: Fraud Up Worldwide, Fueled by Attitudes of Execs
Ernst and Young's 13th Global Fraud Survey has shown that fraud has increased in many countries over the past two years, according to CGMA Magazine, and part of that has to do with what a certain...
View ArticleBNP Paribas Close to Settlement with U.S.
French banking giant BNP Paribas, which has been accused of dealing with countries under sanction from the United States government such as Sudan and Iran, is close to settling its charges with an...
View ArticleEthics Affected by time of Day
If you want to know whether someone will behave ethically or not, it might be worth finding out whether they are a morning person or a night person: an article in the Harvard Business Review asserts...
View ArticleMadoff Accountant Pleads Guilty
Paul Konigsberg, a certified public accountant working primarily in tax, pleaded guilty to falsifying books and records for notorious scammer Bernie Madoff, according to CNN Money.read more
View ArticlePowerful CEOs can Warp Ethics of Nearby CFOs
A paper that came our earlier this month, produced by an accounting professor at UCLA, suggests it may not be enough to look at who, specifically, cooked the books, as the impulse for such actions...
View ArticleProsecutors Eye Surviving Madoff Son
The number of people suspected of connections to notorious swindler Bernie Madoff continues to pile up--as the guilty plea of Madoff's accountant, Paul Konigsberg, works its way through the system,...
View ArticlePonzi Schemes Still Alive and Kicking Post-Madoff
Despite the massive publicity generated by the Bernie Madoff affair, people continue to get sucked into Ponzi schemes, with authorities saying that a at least one new scam is found just about every...
View ArticleE&Y Pay $4M Settlement to SEC for Independence Violations
A subsidiary of Big Four firm Ernst and Young has agreed to pay $4 million to the Securities and Exchange Commission, which accused the company of violating independence rules by lobbying on behalf of...
View ArticleBeing Conned Before a Risk Factor in Being Conned Again
Fool me once, shame on me. Fool me twice, it was probably because I was already fooled once. That's why the names of 1,300 fraud victims will not be released to the news media, according to the New...
View ArticleRetirees Lead Whistleblower Stats
Since first setting it up in mid-2011, the Securities and Exchange Commission has heard from over 6,500 people looking to take part in its whistleblower program, which offers 30 percent of any...
View ArticleBank of America offers $16B Settlement--Biggest in History
Bank of America may pay the government $16 billion to settle an investigation into its role in the real estate crisis due to its sale of mortgage securities, said the New York Times, which would be...
View ArticleStudy: More Insider Trades Happen Just Prior to Comment Letter Releases
A study from the American Association of Accountants has found that people are most likely to engage in insider trading in the period right before an SEC comment letter on revenue recognition...
View ArticleStudy: Unexpected Difficulties Encourage Cheating
We're more likely to cheat when we think a task is going to be easy but find out that it's actually a lot harder than we thought, according to a paper written by researchers from Harvard Business...
View ArticleSEC Pays Out Record Whistleblower Reward
The Securities and Exchange Commission has awarded an anonymous whistleblower $30 million, the largest payout in the history of the program that seeks to reward individuals for going to regulators with...
View ArticleIRS's Lois Lerner Apologizes for Nothing
Lois Lerner, the former Director of Tax Exempt Organizations at the IRS and a central figure in the scandal involving political bias in approving applications for nonprofit organization status, has...
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