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FCPA Blog Daily News

Entries in Fraud (34)

Wednesday
Jan182017

Matthew Kinch: How to spot and stop ‘fake-CEO/CFO’ scams 

It sounds like a preposterous scenario. A member of the company's finance team transfers several million dollars to an unknown firm for a transaction no one in the company has ever heard of, based solely on confidential orders from the company's CEO or CFO sent by email.

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Thursday
Aug182016

This Morgan Stanley isn't the Morgan Stanley you think it is

The UK Financial Conduct Authority issued a warning Monday about a cloned firm using Morgan Stanley's name and London address to take money from victims.

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Monday
Aug082016

Dr. Alexander Stein: We are what we hide

Martin Kenney and I wrote a post for the FCPA Blog recently called "How, then, do we stop the fraudsters among us?". The post is structured as a conversation between us regarding psychodynamic and other non-conventional approaches to compliance and fraud. I’m quoted as saying “everyone is a fraudster.” 

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Wednesday
Jul202016

Martin Kenney: How, then, do we stop the fraudsters among us?

When I read the FCPA Blog post by Caveni Wong (Who Cheats? Most of us, it turns out) I contacted Dr. Alexander Stein.

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Wednesday
Mar232016

Company owner, employee admit FCPA offenses in Venezuela oil company bribe case

The owner of multiple U.S.-based oil and gas services companies pleaded guilty Tuesday to FCPA and fraud charges for bribing officials to win contracts from Venezuela’s state-owned energy company, Petroleos de Venezuela S.A. (PDVSA).

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Thursday
Feb252016

Martin Kenney: Why are UK fraud victims neglected and forgotten?

According to Transparency International UK, "billions of pounds of dirty money" are passing through the UK monetary system, due to what TI describes as a "woefully inadequate” and fragmented anti-money laundering approach.

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Wednesday
Dec232015

Martin Kenney: Overcome fear of fraud with on-the-mark due diligence

It's a worrying time for executives. According to Kroll’s 2015 Global Fraud Report, some 40 percent of respondents felt vulnerable to corruption and bribery.

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Friday
Dec042015

Owner of Polygraph.com jailed for training customers to lie (with video)

A former Oklahoma City law enforcement officer and the owner of Polygraph.com was sentenced to two years in prison for training customers to lie and conceal crimes and other misconduct during polygraph examinations.

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Monday
Nov232015

Kroll fraud report: Executives feel vulnerable to overseas corruption linked to intermediaries

Half of the executives Kroll polled for its 2015 Global Fraud Report said their companies are at risk of vendor, supplier, or procurement fraud tied to overseas expansion.

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Wednesday
May202015

Fapiaos (Part 3 of 4): Fakes and frauds abound

Part I of this series explained what fapiaos are and why they are used, and Part 2 explained the different types of receipts and fapiaos in China. Today, we explore the most common fapiao-related schemes.

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Monday
May182015

Unlocking a mystery of China compliance: Fapiaos (Part 1 of 4)

Machine printed fapiao (restaurant)Anyone who has spent time dealing with compliance issues in China has come across the fapiao (发票). This four-part series will try to explain (1) what a fapiao is, (2) the different types of fapiaos and receipts in China, (3) how fapiaos can be misused for fraud, embezzlement, and corruption, and (4) ways to counter these schemes to minimize compliance risk.

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Thursday
Feb122015

Diamond Foods ex-CFO pays $125,000 to settle SEC accounting fraud charges

The Securities and Exchange Commission said Friday a federal court in Northern California approved a settlement with Steven Neil, the former chief financial officer of Diamond Foods, Inc. 

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