By Adrianne Appel2023-03-23T00:21:00
The stunning, rapid collapse of Silicon Valley Bank (SVB), fueled in its final days by droves of panicked depositors seeking funds, likely added to the chaos within the bank and ratcheted up the risk of fraud, according to legal experts.
Troubled financial institutions are frequent targets for fraudsters looking for gaps in normal due diligence procedures to exploit, said Michael Dailey, partner at Dinsmore & Shohl and co-chair of the law firm’s commercial finance and banking practice group.
“No doubt about it: Any time some crisis hits, whether in business or from a hurricane that runs through, some of the first folks that crawl out of the wreckage are the scam artists,” said Dailey.
2023-05-03T19:29:00Z By Aaron Nicodemus
A new report from the Committee of Sponsoring Organizations of the Treadway Commission offers a blueprint to organizations for establishing an overall fraud risk management program.
2023-04-12T14:55:00Z By Neil Hodge
The details of the Prudential Regulation Authority’s case against Wyelands Bank and the business coming from the group of companies that owned it raise questions about the risks such exposure causes to financial institutions, their customers, and the sector at large.
2023-03-30T14:42:00Z By Aaron Nicodemus
The Failed Bank Executives Clawback Act seeks to require the Federal Deposit Insurance Corporation to claw back five years’ worth of compensation from executives who lead failed banks.
2025-06-26T15:37:00Z By Aaron Nicodemus
Bank examiners at the Federal Reserve Board will no longer assess reputational risk during examinations, a concession to the banking industry already underway with two other U.S. regulators.
2025-05-29T16:07:00Z By Aaron Nicodemus
Corporate governance is, all too often, handed down from generation to generation. Like a well-worn jacket, it works great—until it doesn’t. Typically, it is a crisis that forces companies to reassess their corporate governance framework, as gaps are filled and poor policies rewritten. But it doesn’t have to be that ...
2025-03-10T20:56:00Z By Adrianne Appel
The public reported a 25 percent increase in losses–totaling more than $12.5 billion in 2024–to investment scams, tech rip-offs, and general fraud, according to an analysis by the Federal Trade Commission.
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