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September 8, 2016
Canadian fintech companies should take note: expect closer scrutiny by FINTRAC, the country’s anti-money laundering watchdog, to ensure that your new and emerging technologies aren’t vulnerable to financial crime. The regulator is concerned that some fintechs are adopting new business models that... Read More »
September 1, 2016
A 21-year veteran of the Georgia Bureau of Investigation (GBI) and member of the GBI command staff has resigned in lieu of termination after being investigated for allegedly misusing her GBI-issued purchasing card (P-Card). Former GBI inspector Sandra Putnam has been accused of misusing her P-Card... Read More »
August 26, 2016
When you’re new to developing equations for extracting data in CaseWare IDEA Data Analysis, you may not want to clutter your history with irrelevant attempts or information. Luckily IDEA can keep your secrets until you’re ready to run the extraction. Criteria allows you to refine your equation and... Read More »
August 23, 2016
Since 2011, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has been working to close a loophole that they believe facilitates the movement of bulk cash across borders through prepaid credit and gift cards. FinCEN’s hope was the Bank Secrecy Act (BSA) could be amended... Read More »
August 18, 2016
An example of success with CaseWare Analytics, Delena D. Spann is a Fraud Analysis Expert for the U.S. Federal Law Enforcement Agency who has always been an advocate for the use of data analysis. Although data analytics has existed for years, she believes that it’s becoming “200% important”,... Read More »
August 16, 2016
Whether you’re an internal or external auditor or work in a specialized area, if you’re considering implementing a data analysis tool into your audit program, this information is for you. In a recent webinar co-presented by the Association of Certified Fraud Examiners (ACFE) and CaseWare Analytics... Read More »
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 »