New research on accounting fraud, using a technique that flagged Enron as an earnings manipulator several years before the energy company’s spectacular 2001 implosion. Messod D. Beneish, a professor of accounting at Indiana University who developed...

The Securities and Exchange Commission today charged Darryl Matthew Cohen, a former investment adviser at a large financial institution, with misappropriating more than $1 million from three current and former NBA players over two and a...

The Department of Justice (DOJ) has issued indictments charging multiple defendants with violations of the Arms Export Control Act (AECA) and the International Emergency Economic Powers Act (IEEPA) for schemes to procure and export U.S. technology to Iran .

The Justice Department is investigating the surveillance of U.S. journalists by TikTok's Chinese owners, according to reports in the Wall Street Journal. The investigation started when he Beijing-based ByteDance Ltd. in December acknowledged that its employees misused their authority to access the data of journalists in an effort to identify leaks of...

Sterling Bancorp Inc. agreed to plead guilty to one count of securities fraud and to pay US$27.2 million in restitution to shareholders. The Government says the bank covered up misconduct in its lending business ahead of its initial public...

U.S. and European authorities have shut down cryptocurrency platform ChipMixer and charged its alleged operator, accusing it of laundering more than $3 billion of criminal proceeds, including $700 million allegedly stolen by North Korean hackers. They assert that ChipMixer was a sought-after platform for laundering illicit funds gained from ransomware attacks. crypto heists...

Chinese businessman Miles Guo and his financial advisor William Je have been charged by the Securities and Exchange Commission for their involvement in unregistered and fraudulent offerings that raised more than $850 million. According to the SEC’s complaint, https://www.sec.gov/litigation/complaints/2023/comp-pr2023-50.pdf since April 2020, Guo, also known as Ho...

Silicon Valley Bank failed just 14 days after KPMG LLP gave the lender a clean bill of health. Signature Bank went down 11 days after the accounting firm signed off on its audit. According to a report in the Wall Street Journal, what KPMG knew about the status of two...

In March 2022, the Securities and Exchange Commission proposed rules requiring public companies to report material cybersecurity incidents within four business days after a determination that this had occurred. https://www.sec.gov/rules/proposed/2022/33-11038.pdf. The proposed rules require, , current reporting about material cybersecurity incidents and periodic reporting to provide updates...

The Securities and Exchange Commission today announced that Blackbaud Inc., a public company that provides donor data management software to non-profit organizations, agreed to pay $3 million to settle charges for making misleading disclosures about a 2020 ransomware attack that impacted more than 13,000 customers. The SEC’s order