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Fraud Internal Controls Today's Popular Updates

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
IR Global

Forensic Analysis in Fraud Detection

IR Global on

Forensic analysis has become a cornerstone in the fight against financial fraud, combining accounting, auditing, and investigative skills to uncover and prevent fraudulent activities. As financial crimes continue to rise...more

Womble Bond Dickinson

Navigating the Labyrinth: Artificial Intelligence in the Battle Against Trade-Based Money Laundering

Womble Bond Dickinson on

In the rapidly evolving financial landscape, governments worldwide are intensifying their focus on compliance in Know Your Customer (KYC) and Anti-Money Laundering (AML) efforts for financial institutions. Trade-Based Money...more

Pillsbury Winthrop Shaw Pittman LLP

The Crossroads of Cybersecurity and National Security: Delaying Disclosure of Incidents under the SEC’s New Cybersecurity Rule

In recent guidance, the Department of Justice made clear that it will very rarely grant an extension of registrants’ deadline to disclose material cybersecurity incidents under the SEC’s Final Rules. Under the Securities and...more

Skadden, Arps, Slate, Meagher & Flom LLP

JPEX Is Test Case for Hong Kong’s New Regulatory Regime for Virtual Asset Exchanges

Hong Kong regulators recently brought criminal enforcement actions against virtual asset trading platform JPEX and individuals associated with the platform. This case has become the first opportunity for local authorities to...more

White & Case LLP

The SEC’s Charges Against SolarWinds and its Chief Information Security Officer Provide Important Cybersecurity Lessons for Public...

White & Case LLP on

On October 30, 2023, the US Securities and Exchange Commission ("SEC") announced that it filed charges against SolarWinds Corp. ("SolarWinds" or the "Company") and its Chief Information Security Officer ("CISO") in connection...more

BCLP

SEC Brings Landmark Cybersecurity Disclosure Lawsuit Against Solarwinds and Its CISO

BCLP on

On October 30, 2023, the SEC filed charges against SolarWinds Corp. and its chief information security officer (CISO), alleging: ..Failures to disclose known cybersecurity vulnerabilities affecting the company’s “crown...more

Goodwin

The FCA’s 2023/24 Priorities for UK Payments: Firms and Investors, Take Note

Goodwin on

On March 16, 2003, the UK Financial Conduct Authority (FCA) published its letter Portfolio Letter: FCA priorities for payments firms to the CEOs of UK Payment Institutions (PIs), Electronic Money Institutions (EMIs), and...more

Bennett Jones LLP

Business Email Compromise: Protect Your Company From This Common Scam

Bennett Jones LLP on

Between 2016 and 2019, Business Email Compromise (BEC) scams cost American organizations US$3.1 billion in losses and Canadian organizations US$33.6 million. This type of pervasive scam targets large and small businesses...more

Morgan Lewis

SEC Issues Report on Cyber Fraud Against Public Companies, Internal Control Requirements

Morgan Lewis on

The US Securities and Exchange Commission’s Division of Enforcement (SEC) issued an investigative report on October 16 on nine public companies that were victims of cyber-related frauds, and considered whether these companies...more

A&O Shearman

Can a Cyber Breach Be a Violation of Internal Controls? The SEC Says, ‘Maybe’

A&O Shearman on

On October 16, 2018, the Securities and Exchange Commission (SEC) issued a report outlining an investigation conducted by the SEC’s Division of Enforcement related to the internal accounting controls at nine public companies...more

Ballard Spahr LLP

SEC Special Report: Rampant Business Email Compromises Require Reassessment of Internal Accounting Controls

Ballard Spahr LLP on

The U.S. Securities and Exchange Commission (SEC) has joined the government chorus in sounding the alarm about the rapid rise in "business email compromises" that are victimizing organizations across industry sectors....more

Alston & Bird

SEC Investigative Report Cautions Public Companies to Consider Cyber Threats When Implementing Internal Accounting Controls

Alston & Bird on

The Securities and Exchange Commission issued an investigative report last week cautioning public companies to consider cyber incidents and threats when implementing internal accounting controls. ...more

Troutman Pepper Locke

Cyber Threats and Internal Accounting Controls

Troutman Pepper Locke on

On October 16, 2018, the Securities and Exchange Commission (“SEC”) issued an investigative report (see here) pursuant to Section 21(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) warning public companies that...more

WilmerHale

SEC Cautions Issuers to Consider Cyber Threats When Devising and Maintaining Internal Accounting Controls

WilmerHale on

Yesterday, the Securities and Exchange Commission released an investigative report regarding its investigation into whether nine public companies that were victims of cyber-related frauds violated federal securities laws by...more

McGuireWoods LLP

SEC Report Reiterates Cybersecurity Implications for Internal Control Requirement

McGuireWoods LLP on

On October 16, 2018, the Securities and Exchange Commission (SEC) issued a report on the results of investigations made by the SEC’s Division of Enforcement into nine public companies that were victims of cyber-related...more

Thomas Fox - Compliance Evangelist

FCPA Compliance Report-Episode 366 Jonathan Marks on performing and using a root cause analysis

In this podcast, I visit Jonathan Marks, a partner at Marcum LLP on how to perform a root cause analysis and its uses in the remediation phase of a best practices compliance program. One new and different item was laid out in...more

Orrick, Herrington & Sutcliffe LLP

Recent SEC Enforcement Actions and Public Commentary Demonstrate the Commission’s Continued Focus on Internal Control Failures

We have previously written about how, over the past few years, the SEC and other regulatory agencies have devoted substantial resources to investigations regarding allegations that public companies have inadequate internal...more

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