Leaked Tapes Show Regulators Discouraging Action
Leaked recordings of meetings between the U.S. Federal Reserve and Goldman Sachs has shown a relationship that plays down troublesome information and encourages a more gentle hand with the bank,...
View ArticleGeorgia Woman Tries Cashing $94M Fraudulent Check at Supermarket
Not all taxfraud has to be a complicated Rube Goldberg machine of shady deductions and fictional dependents. But there's a reason it often is: if your plan is to simply say you made $99 million in...
View ArticleWhistleblowers Turning to NY AG for Faster Results
While the Securities and Exchange Commission (SEC) offers larger payouts, whistleblowers who want to see fast action are turning to the New York State Attorney General's Office, according to...
View ArticleReport: Elder Financial Abuse Seriously Underreported
A study from insurancefirm Allianz shows that only 5 percent of seniors reported financial abuse, despite one in five friends and family of elderly people reporting they know someone who has been...
View ArticleSEC Charges High Frequency Trading Firm with Market Manipulation
For the first time, the Securities and Exchange Commission has charged a high frequency trading firm with actively manipulating the market.read more
View ArticleReport on Tesco Profit Overstatement Faults Inappropriate Staff Action
The multi-million pound profit overstatement that has been dogging British supermarket chain Tesco over the past few weeks has been found by an investigation to be the result of inaappropriate behavior...
View ArticleReport on Tesco Profit Overstatement Faults Inappropriate Staff Action
The multi-million pound profit overstatement that has been dogging British supermarket chain Tesco over the past few weeks has been found by an investigation to be the result of inaappropriate behavior...
View ArticleReport: Why Do Insider Trading? High Reward, Low Risk
A recent study reveals that the reason people commit insider trading is because they make a lot of money doing it--a lot of money--and it's considered relatively low-risk by those who do it, according...
View ArticleJailed for Fraud, Billionaire Allen Stanford Appeals
Mustachioed financier Allen Stanford, who is currently sitting in jail for a 110 year sentence after being convicted for running a $7 billion Ponzi scheme, has said that he was the victim of illegal...
View ArticleTesco Probe Widens into Criminal Investigation
UK-based retailer Tesco, which has spent the last few weeks embroiled in an accounting £250 million (or roughly $402 million), can add a criminal investigation from the government's Serious Fraud...
View ArticleProsecutors Re-open Big Bank Cases on New Revelations
Previously settled cases with big banks are being re-opened by prosecutors based on new information about them violating the terms of said settlement, said the New York Times.read more
View ArticleFormer Partner of PwC Japan Speaks on Code of Ethics
Atushi Kato, a former partner at PwC Japan and a public member of the International Ethics Standards Board for Accountants (IESBA), recently shared his views in Accounting Today on why ethics and...
View ArticleStudy: Charts Add Perceived Credibility, Regardless of Actual Credibility
If you want people to believe you, add a chart. That's according to a recent study that found people were more likely to believe medical claims if there was a chart in the mix, according to Inc.read more
View ArticleSenator Concerned New Rev. Rec. Standard Opens Door to Abuse
Senator Carl Levin (D-Michigan) wrote to the Financial Accounting Standards Board (FASB) warning that the new revenue recognition standard, which collapses the various transaction-specific standards...
View ArticleFed Bust Bitcoin-based Ponzi Scheme
In a first of its kind case, the FBI has arrested a Texas man for allegedly running a $4.5 million Ponzi scheme linked to the digital currency Bitcoin, according to Bloomberg. Trendon Shavers founded...
View ArticleSoldiers Sue Banks Over Iran Money Transfers
A group of U.S. soliders has fired a lawsuit at major banks Barclays, HSBC, Standard Charter, Credit Suisse, and Royal Bank of Scotland, saying that they knowingly processed funds from Iran, at least...
View ArticleBronx Tax Preparer Pleads Guilty to Running Ponzi Scheme
Robert H. Van Zandt, the owner of the Van Zandt Agency, a tax preparation firm, pleaded guilty on Monday to a 33-count indictment lodged against him, which included securities fraud and grand larceny,...
View ArticlePope Francis Addresses the Accounting Community
His Holiness Pope Francis was the featured speaker at the World Congress of Accountants in Rome, where he called upon the profession to go above and beyond in applying its creativity and intelligence...
View ArticleHackers Stole M&A Data From 80 Companies
Financially savvy hackers are said to have stolen merger and acquisition data from more than 80 companies over the past year, according to Bloomberg. The information comes from a report released by a...
View ArticleStudy: Most Corrupt Industries Include Extraction, Construction, Transportation
Research from the OECD has found that the two thirds of all bribery-related corruption cases occur in just four industries: extractive, at 19 percent, construction, 15 percent, transportation and...
View Article