IBM Uncovers Bank Transfer Scheme
The group behind the new fraud "has the type of expertise and backing to steal large sums of money" from corporate bank accounts, according to IBM.
‘Operation Choke Point’ Catches Two More Banks
Two Irvine, Calif.-based banks settle with the Justice Department over permitting transactions involving fraudulent merchants.
Xoom CFO Resigns As Firm Discloses $30M Fraud
Alongside a criminal investigation, Xoom's audit committee has authorized an independent investigation that will review the company's internal controls.
Workers Reporting More Fraud — and Paying the Price
Reports of fraud hit an all-time high in 2013, while retaliation against whistleblowers also increased, says a compliance hotline provider.
Economic Crime on the Rise Globally: Survey
Asset misappropriation, procurement fraud and bribery are the three most common economic crimes occurring in organizations, finds a PwC study.
Criminals Posing as CFOs to Commit Wire Fraud
They hack into companies' email, pretend to be senior executives and direct employees to make bogus financial transactions.
Hotlines, Not Audits, Catch Crooked Employees
A new report from the Association of Certified Fraud Examiners finds that tips from fellow employees are the best way to catch fraudsters.
HP Audit Finds Proof Autonomy Fudged Accounting
Computer giant files report saying it has evidence that the British software firm inflated reported revenues prior to HP deal.
The Top Five Areas to Monitor for Employee Fraud
Employee fraud can exist anywhere, but CFOs can stay ahead of the game by monitoring some specific payment and expense areas.
Poor Internal Control Tests Hurt Financial Statement Audits
Deficiencies in audits of internal controls can lead to inadequate disclosures in the financial statement audit, says a new PCAOB practice alert.
How Allstate’s Internal Audit Chief Tackles Fraud
The insurer's top internal auditor works with the CFO and the chair of the audit committee to prevent financial misstatements.