Financial Crimes, Misappropriation, Fraud

Fresh Amendments to Law On Financial Audit Authority: Offending Employees Now Face Travel Ban and Asset Seizure

Awatif Mohammad Shoqi Advocates & Legal... on 1/27/2025

The Emirate of Dubai has recently passed new amendments to the existing “Dubai Law No. 4/2018 on the Establishment of the Financial Audit Authority” (“LAW”). As per the new amendments, financial fraud and misconduct in...more

El Fraude Ocupacional Es El Delito Financiero Más Común

Foodman CPAs & Advisors on 11/8/2022

“El fraude ocupacional es muy probablemente la forma de delito financiero más costosa y común del mundo”, según el Reporte a las Naciones del 2022 emitido por la Asociación de Examinadores de Fraude Certificados (ACFE), la...more

Factors to Be Considered by Financial Organizations for an Effective Transactional Monitoring System

Ankura on 9/27/2022

The rising incidence of financial crime continues to haunt financial institutions globally. As per a recent industry report, more SARs (suspicious activity reports) were filed by ~80% of the firms in 2021. COVID-19 pandemic...more

Occupational Fraud Is The Most Common Financial Crime

Foodman CPAs & Advisors on 6/10/2022

“Occupational Fraud is very likely the costliest and most common form of financial crime in the world” as per the 2022 Report to the Nations issued by the Association of Certified Fraud Examiners (ACFE) – the world’s largest...more

UK Supreme Court upholds first successful claim for breach of the "Quincecare" duty financial institutions owe their customers

White & Case LLP on 11/6/2019

In Singularis Holdings Ltd (In Official Liquidation) v Daiwa Capital Markets Europe Ltd ([2019] UKSC 50), the Supreme Court upheld the first successful claim in negligence by a customer of a financial institution for breach...more

This Week In Securities Litigation

Dorsey & Whitney LLP on 9/5/2014

The Commission prevailed on summary judgment in an action against a broker which alleged he misappropriated client funds. The agency also filed actions centered on: an audit failure; the EB-5 immigration program; undisclosed...more