Wirecard continues to dominate the headlines in the realm of corporate fraud thanks to $2 billion missing from the company’s books, but it’s not the only company at the center of questionable activity. With the global pandemic continuing to cause market disruptions, the opportunities for...
A recent academic study found that company CFOs are less likely to admit to fraud when they’re facing pressure to meet certain financial goals, according to Forbes. The study illustrates that corporate fraud is a serious and nuanced issue that isn’t necessarily easy to identify and catch,...
Corporate fraud comes in many colors, but for many businesses, the most unexpected threat is the one looming from within company walls. This week, IBM announced a collaboration with Raw Seafoods to develop a blockchain solution to address supply chain fraud in the seafood industry,...
New details have surfaced about how a Chinese pharmaceutical conglomerate overstated its cash position by about $4.3 billion. Bloomberg reported on Wednesday (May 29) that Kangmei Pharmaceutical, one of China’s largest public pharmaceutical firms, falsified documents and transaction records to overstate its cash holdings. Shares...
October 02, 2018
Halloween comes early this year as we delve into a slew of grisly facts about financial crime in our latest Data Drivers. Losses amount to $1.4 trillion? While 41 percent of crimes go unreported? As David Divitt, VP of financial crime products of Vocalink, notes, frightening things are afoot — but there are ways to get the money back.
