August 28, 2021 The Danske Bank’s 200 billion euros ($235 billion) of suspicious transactions through its Estonian branch from 2007 to 2015 is the biggest money laundering scheme in history. Danske Bank money laundering ‘is biggest scandal in Europe’ – The American Anti-Corruption Institute (AACI)Read Moreblog.theaaci.com On August 25, 2021,...
Technical StaffJuly 23, 2021 Due to the low audit quality of listed corporations, regulators and watchdogs in many developed nations are closely scrutinizing the public audit profession. For example, The Financial Reporting Council, the UK’s accounting regulator, said “audits performed by the big four accounting firms and smaller rivals failed...
Technical StaffJune 30, 2021 After acknowledging that €1.9 billion ($2.3 billion) allegedly held in trust accounts didn’t exist, Wirecard filed for insolvency in June 2020. It was also discovered to be heavily in debt, and it was accused of falsifying financial accounts for years. As a result, the Bundestag (German...
Mike J. MasoudJune 29, 2021 On July 22, 2014, I was shocked when I read an opinion in the Washington Post entitled “We need an international court to stamp out corruption,” written by Mark L. Wolf. He was a senior U.S. district judge for the District of Massachusetts. I shared my fears...
Technical Staff June 19, 2021 The perpetrators of this corruption scheme attempted to get control shares of shell companies in order to artificially inflate their share values and sell them to unsuspecting investors. Shell company hijack: Men used SEC filings, fake press releases for stock pump-and-dump scam, feds sayThree men...
Mike MasoudApril 30, 2021 Last June, our staff published the following post about the Wirecard scandal. They stated, among other things, the following: Who Should Pay For It? Where were BaFin, Germany’s financial watchdog? Where were the Board of Directors of Wirecard?Where were EY, the independent auditor of Wirecard? Where were the...
Technical StaffApril 30, 2021 On April 14, 2021, Bernard L. Madoff died in prison, serving a 150-year sentence. During the 2008 financial crisis, it was revealed that he was in charge of the largest Ponzi scheme in American history. Below is a BBC report on Madoff’s death: Bernie Madoff: Disgraced financier dies in prisonBernie Madoff admitted he had conned investors out of billions of dollars in a Ponzi scheme.Read Morewww.bbc.com The following...
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