All Fraud articles – Page 3
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BlogSFO: Former Petrofac executive pleads guilty in bribery case
A former executive of Petrofac pleaded guilty this week to bribery offenses in connection with an ongoing investigation by the U.K. Serious Fraud Office into the oilfield services company and its subsidiaries.
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Blog
PCAOB releases KPMG's 2016 report, 3 others
The PCAOB has published its report on KPMG’s scandal-ridden 2016 inspection, along with three other reports, describing high levels of audit deficiencies and mismanagement of quality.
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Blog
SEC disciplines Crowe, two partners over audit failures
The SEC has settled charges against Crowe and two of its partners for “significant audit failures” connected to a payroll services firm that went bankrupt.
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Former Autonomy execs face fraud charges in HP deal
A federal grand jury has delivered indictments against former Autonomy executives in connection with HP’s failed acquisition of the U.K. technology business.
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Blog
SWIFT solution combats fraudulent payments
SWIFT, a secure financial messaging service, announced the introduction of Payment Controls, an in-network solution to combat fraudulent payments and help strengthen customers’ existing security.
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Third ex-KPMG partner pleads guilty in inspection leak
A third ex-KPMG partner has consented to a guilty plea in connection with charges of fraud and conspiracy in regulatory inspections.
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Article
U.K.’s EA mum on combating plastic waste fraud
A recent report says the U.K. Environment Agency is investigating complaints of widespread fraud and non-compliance with waste regulations being perpetrated by organised criminals and certain U.K. firms—a claim the agency will neither confirm nor deny.
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Ex-KPMG leader pleads guilty in inspection leak case
A former KPMG leader has pled guilty to four counts of fraud and conspiracy in connection with an operation to subvert the regulatory inspection process.
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SEC warns companies to control phishing losses
The SEC has put companies on notice that their internal controls need to consider the risk of cyber-attack, especially e-mail “phishing” scams.
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PCAOB calls out two-thirds of audits at BDO USA
The PCAOB has handed BDO USA another scathing inspection report, finding 67 percent of the audits examined in 2016 failed to comply with standards.
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SeaWorld, CEO settle fraud charges with SEC for $5M
SeaWorld Entertainment and its former CEO have agreed to pay a total of more than $5 million to settle fraud charges for misleading investors about the impact the documentary film Blackfish had on the company’s reputation and business, the Securities and Exchange Commission announced.
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Still MIA: 2016 inspection report on KPMG
Audit regulators remain mum on when, if ever, they will publish a report on their 2016 inspection of Big 4 audit firm KPMG.
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SEC charges Fyre Festival founder with investor fraud
The Securities and Exchange Commission announced on Tuesday that New York entrepreneur William McFarland, creator of 2017's disastrous Fyre Festival, has agreed to settle charges arising out of a multi-year offering fraud that raised at least $27.4 million from more than 100 investors.
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Blog
DoJ launches new task force on Market Integrity and Consumer Fraud
The Justice Department, empowered by an executive order by President Trump, is creating a new, multi-agency task force on Market Integrity and Consumer Fraud. The plan was detailed, on Wednesday, in public remarks by Deputy Attorney General Rod Rosenstein.
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PwC ordered to pay FDIC $625 million in Colonial Bank case
PwC has been ordered to pay the FDIC $625.3 million as a result of a long-running accounting fraud that caused the 2009 failure of Colonial Bank.
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What changed? FRC brings action in Autonomy scandal
The Financial Reporting Council has brought long-awaited charges against Autonomy executives for their role in the massive accounting fraud uncovered when Hewlett-Packard attempted to purchase the software firm in 2011.
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Blog
Court throws out Barclays’ Qatar fraud charges
Barclays Bank received some good news this week when a U.K. court threw out criminal charges relating to its decade-old fundraising deals in Qatar.
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Blog
Responding to setbacks, KPMG adds outside directors
After some serious blows to its reputation, KPMG has decided to add outside directors to its board.
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Article
Buyer-funded developments equal fraud
Buyer beware: A pattern is emerging with buyer-funded developments—investors tempted by high-yield returns, only to see the projects collapse and their investments disappear.
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Article
SFO targets Tesco executives in retrial
Although British supermarket chain Tesco secured a DPA for its 2014 fraud offence, three of its executives still face a reckoning in court—with an uncertain outcome.