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.
Two Irvine, Calif.-based banks settle with the Justice Department over permitting transactions involving fraudulent merchants.
Alongside a criminal investigation, Xoom's audit committee has authorized an independent investigation that will review the company's internal controls.
Reports of fraud hit an all-time high in 2013, while retaliation against whistleblowers also increased, says a compliance hotline provider.
Asset misappropriation, procurement fraud and bribery are the three most common economic crimes occurring in organizations, finds a PwC study.
They hack into companies' email, pretend to be senior executives and direct employees to make bogus financial transactions.
A new report from the Association of Certified Fraud Examiners finds that tips from fellow employees are the best way to catch fraudsters.
Computer giant files report saying it has evidence that the British software firm inflated reported revenues prior to HP deal.
Employee fraud can exist anywhere, but CFOs can stay ahead of the game by monitoring some specific payment and expense areas.
Deficiencies in audits of internal controls can lead to inadequate disclosures in the financial statement audit, says a new PCAOB practice alert.
The insurer's top internal auditor works with the CFO and the chair of the audit committee to prevent financial misstatements.
A new study from KPMG names senior finance executives as the "typical" fraudster. But CEOs are catching up.
