News & Analysis as of

Fraud Financial Crimes Corruption

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
Society of Corporate Compliance and Ethics...

Corruption and modern slavery

In my July column, I wrote about the connection between corruption and the environment. But corruption also has a link to the “S” of the environmental, social, and governance (ESG) pillars. Corruption is both a cause and a...more

K&L Gates LLP

How the Serious Fraud Office's Ambitious Five-Year Strategy Will Impact Businesses

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The Serious Fraud Office (SFO) recently published its new five-year strategy for 2024-2029 (the Strategy), setting out its ambitious aspirations to become a “pre-eminent specialist, innovative and collaborative agency which...more

BCLP

Confronting and Mitigating Against Corruption

BCLP on

Construction is a $1.7 trillion industry worldwide, contributing between 5 and 7 percent of GDP in most countries. However, it is also an industry that is highly vulnerable to corruption due to its inherent characteristics....more

BCLP

Corruption in Sport - Its Shape, Consequences and Impact on Potential Reform

BCLP on

The Euros 2024 were the first in a list of long-awaited sporting events this summer, culminating with the 2024 Olympic Games in Paris. However, as sport becomes more global and its coverage expands, so does its exposure to...more

White & Case LLP

High-value, high-risk: Bribery, corruption and fraud threats to the luxury goods sector

White & Case LLP on

As Coco Chanel once said: "Fashion changes, but style endures." And "endurance" has been a key word for the global luxury goods sector in recent years; it has seen exceptional growth in defiance of high interest rates,...more

WilmerHale

‘One eye across the Atlantic’ - The UK SFO Director’s Maiden Speech and Recent Visits to the United States Underscore the...

WilmerHale on

The Director of the UK Serious Fraud Office (SFO), Nick Ephgrave QPM, delivered his maiden public speech on February, 13, 2024, closely followed by visits to key financial centres in the United States to meet with...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

Ballard Spahr LLP

DOJ Bolsters International Cooperation to Combat Corruption

Ballard Spahr LLP on

Summary - The Department of Justice (DOJ) has created the International Corporate Anti-Bribery initiative (ICAB), which aims to strengthen the United States’ global efforts in combating corruption through enhanced...more

J.S. Held

Detecting Fraud Using Emerging Technology: Don’t Be Afraid to Innovate

J.S. Held on

In today’s rapidly evolving digital landscape, fraud and financial crime have become an increasingly complex and pervasive issue for organizations, big and small, global, and domestic. Fortunately, advanced technology and...more

Parker Poe Adams & Bernstein LLP

New Reporting Requirements Under the Corporate Transparency Act

The Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) recently issued final regulations to implement the reporting requirements under the federal Corporate Transparency Act (CTA). The CTA aims to further...more

StoneTurn

How Is Fraud Being Perpetrated In Your Organization?

StoneTurn on

Just one individual’s negative behavior can have a detrimental effect on a group and, for large organizations, the threat from just “a few bad apples” increases tenfold. With internal fraud figures climbing each year and...more

Foodman CPAs & Advisors

El Fraude Ocupacional Es El Delito Financiero Más Común

“El fraude ocupacional es muy probablemente la forma de delito financiero más costosa y común del mundo”, según el Reporte a las Naciones del 2022 emitido por la Asociación de Examinadores de Fraude Certificados (ACFE), la...more

Ankura

Factors to Be Considered by Financial Organizations for an Effective Transactional Monitoring System

Ankura on

The rising incidence of financial crime continues to haunt financial institutions globally. As per a recent industry report, more SARs (suspicious activity reports) were filed by ~80% of the firms in 2021. COVID-19 pandemic...more

Ankura

Responding to the Increased Global Risk of Financial Crimes

Ankura on

Ankura's Nova O sits down with Mark McGrath, Ayana Murphy, and Elif Cinar to discuss the current anti-money laundering (AML) landscape in the latest Q&A with our Ankura experts. Learn more about responding to the increased...more

Foodman CPAs & Advisors

Occupational Fraud Is The Most Common Financial Crime

“Occupational Fraud is very likely the costliest and most common form of financial crime in the world” as per the 2022 Report to the Nations issued by the Association of Certified Fraud Examiners (ACFE) – the world’s largest...more

McDermott Will & Emery

FinCEN Announces Anti-Money Laundering Priorities

McDermott Will & Emery on

The Financial Crimes Enforcement Network (FinCEN) recently issued its government-wide anti-money laundering (AML) and countering the financing of terrorism (CFT) priorities (AML/CFT priorities). FinCEN issued the AML/CFT...more

Cozen O'Connor

Expect an Uptick in Employee Embezzlement Following COVID-19 Lockdowns

Cozen O'Connor on

As businesses across the country begin to reopen in the wake of COVID-19, they should prepare for an anticipated surge of embezzlement schemes by employees — and banks and financial institutions should prepare for a surge of...more

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