Attendees at the annual CFO Summit at the Massachusetts Institute of Technology on Nov. 19 heard from federal regulators promising no end to their fraud crackdown of recent years, as well as from other corporate executives offering their ideas on how to maintain ethical operations amid difficult economic circumstances.
Neil Power, a supervisory agent at the FBI, told the crowd that the FBI is currently investigating 592 corporate fraud cases—60 more than the caseload two years ago. Securities fraud, such as Ponzi schemes or other high-investment scams, have also seen “an alarming increase” from 1,200 cases in 2007 to roughly 1,500 cases today, he said.
