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April 6, 2016
Making history today, an unnamed Canadian bank has been fined $1.1 million by FinTRAC—the Financial Transactions and Reports Analysis Centre of Canada—for not reporting a suspicious transaction and a number of money transfers. Other banks and financial institutions across the country are taking... Read More »
April 5, 2016
Alison Gordon from Washoe County, Nevada is like many other internal auditors: she is an “internal auditor of one”. That is, she’s the only person in her organization tasked with the responsibility of addressing high-risk issues such as disbursement controls, segregation of duties, continuity of... Read More »
March 31, 2016
According to Ernst & Young’s Annual 2016 Global Forensic Data Analytics Survey, Shifting into High Gear: Mitigating Risks and Demonstrating Returns, cyber breaches and insider threats is one of the fastest growing fraud risks for companies across various sectors. The survey, which polled 665... Read More »
March 30, 2016
With our recent snowy weather here in Ottawa, Canada, we’re missing the sunny weather we found in Miami, Florida earlier this month when we attended the 16th Annual FIBA Anti-Money Laundering (AML) Compliance Conference. With more than 1,400 participants, 21 panel discussions, and 100 relevant... Read More »
March 29, 2016
When it comes to VAT—value-added tax—big names spanning the globe are making recent headlines. Heavy hitters such as Amazon and eBay have made the news after the UK Treasury announced the two corporations will be held liable for VAT fraud committed by overseas sellers using these sites to sell... Read More »
March 22, 2016
According to the country’s Auditor General, the Nigerian National Petroleum Corporation (NNPC) held back $16 billion in revenues from the federal government—and they want what they’re owed. Allegations in the report include: 1) accruals from gas sales to the Nigerian Liquefied Natural Gas (NLNG)... Read More »
March 17, 2016
A Miami-based bank is being fined $6.5 million for anti-money laundering (AML) compliance lapses, including failing to report suspicious transactions. The incidents involve Gibraltar Private Bank and Trust Company and former lawyer Scott Rothstein, who ran a Ponzi scheme that cost investors $1.2... Read More »
March 15, 2016
It appears that ghost workers are haunting the payroll offices of a few governments. This month Nigeria removed 23,846 ghost workers from its payroll, which is expected to save the economy more than $11 million a year. Tanzania experienced a similar event last year when an audit revealed that the... Read More »
March 10, 2016
Australia’s anti-bribery legislation is about to get stronger. After much criticism of its foreign bribery laws by the OECD Anti-Bribery Convention's Phase Three report, a bill before the Commonwealth Parliament could add a “new books and records offence of intentional or reckless false dealing... Read More »
March 8, 2016
Despite a focus on cost control, according to an article in, banks in the UK are still hiring professionals with any of these seven key skills. The ones that caught my attention were the top three as they are often the drivers behind the purchase of our solutions. Here is the... Read More »