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August 12, 2016
The Alberta Motor Association (AMA) has filed a large-scale lawsuit against its former vice-president of information technology (IT) after it discovered he allegedly defrauded the company $8.2 million over a period of three years—one of the top five most costly cases of fraud to hit the province... Read More »
August 10, 2016
In another move reflecting its seriousness in holding card clubs accountable for anti-money laundering (AML) compliance failures, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has dealt a Californian card club a $2.8 million penalty. FinCEN alleges that the Hawaiian Gardens... Read More »
August 5, 2016
BNP Paribas: $8.9 billion. Commerzbank AG: $1.45 billion. HSBC: $1.9 billion. As these banks and anyone in the anti-money laundering (AML) compliance business can tell you, breaching sanctions can come with a costly price tag. To be compliant with AML regulations, it’s essential for banks, money... Read More »
August 3, 2016
Credit Union Times has released a new white paper discussing the results of their recent online survey and expert opinions on fraud. Titled Standing Up to Fraud: How Credit Unions Mitigate the Threat Landscape, the paper provides some interesting insights: Nearly 59% of those surveyed thought that... Read More »
July 28, 2016
CaseWare Analytics is pleased to let you know that the newest version of IDEA Data Analysis software is now available in Dutch, demonstrating our continued commitment to providing the international audit and finance communities with access to the tools they need to analyze 100% of their data... Read More »
July 28, 2016
We’ve all seen them shared across our social media circles: the emotional stories of people and charities in need, the heartfelt pleas for help in funding a startup or pet project, and then a link to a webpage where we can donate to lend a financial hand. In most cases these stories are legitimate... Read More »
July 27, 2016
As I looked across the conference floor at the IIA International Conference in New York last week, I am amazed at the changes in the internal auditing profession and the institute. In 1997, only 25,000 people had earned the certified internal auditor (CIA) designation from the IIA, but the number... Read More »
July 21, 2016
Two council workers in Spain have found themselves out of employment after the local town hall discovered that they had been absent from their jobs for 15 years—but continued to collect their paychecks. Attention initially turned to the pair after it was discovered that they had been paid but had... Read More »
July 20, 2016
As auditors continue to deal with increasingly complex projects, accelerating change and increasing reliance on data and analytics, most would agree that a good data analysis program helps manage these challenges. To make your data analysis program a reality, you need three key things: buy-in,... Read More »
July 15, 2016
Town officials in Spring Lake, North Carolina are feeling the heat after the N.C. Office of the State Auditor released a report alleging that thousands of dollars were used inappropriately by the officials. As detailed in the report, 63 town employees could potentially have misspent almost $500,... Read More »