Fraud news worldwide | Page 5

An overview of news, trends and research in the category Fraud in all countries:

United Kingdom

HMRC probes professional services firms to tackle tax evasion With wealthy clients continuously turning to consulting, accountancy and law firms to help circumvent national tax schemes, thousands of such firms have suddenly been placed in the centre of thousand
27 March 2019
South Africa

PwC finds fraudulent accounts of more than $7 billion at Steinhoff Having been appointed in December 2017 to conduct a review of Steinhoff International’s finances, Big Four accounting and advisory firm PwC has released some of the discoveries from its investigation
20 March 2019
United Kingdom

Value of UK fraud halves in 2018 following 15-year high The total value of fraud in the UK has more than halved over the last year, plummeting from its record high of the year before.
28 February 2019
Malaysia

Deloitte fined over half a million dollars in Malaysia 1MDB fall-out
01 February 2019
United Kingdom

ICO stings tax consultancy with £200,000 privacy fine A London-based tax return consultancy has reportedly been fined £200,000 for sending out millions of spam texts without consent.
19 December 2018
Canada

CGI announces blockchain and cybercrime solutions for banks Management and technology consultancy CGI announced a successful collaboration with the National Bank of Canada and Skuchain on a blockchain solution to negotiate standby letters of credit and guaran
22 November 2018
United Kingdom

Venture arm of Accenture invests in financial crime specialist Quantexa Global consulting firm Accenture has invested in a new partnership with data analytics firm Quantexa.
20 November 2018
Mexico

Corruption the biggest barrier for businesses in México Over half of all Mexican respondents to the global survey on fraud and forensic data by the professional service firm Ernst & Young believe that corruption is the greatest threat to doing business in
08 November 2018
South Africa

Stakeholder in Trillian deal calls for more stringent regulations for consultants In light of the Gupta scandal and the substantial repercussions still being felt across South Africa’s business and political environment, the Chairperson and Founder of South African strategy adviso
07 November 2018
South Africa

Nedbank becomes latest client to terminate contract with KPMG SA Global professional services firm KPMG’s operations in South Africa have taken yet another hit, this time in the form of a contract termination from one of the country’s major financial institutions
06 November 2018
India

8K Miles looks to tackle falling stock prices through valuation study Having faced a range of allegations and legal proceedings in recent times, cloud and data management consultancy 8K Miles has made the decision to undergo a valuation study.
01 November 2018
South Africa

Details unveiled of KPMG involvement in the VBS corruption scandal Following an extended period of restructuring efforts, global professional services firm KPMG’s reputation has taken another severe blow in South Africa, this time through allegations about corruptio
17 October 2018
South Africa

Business Leadership SA terminates partnership with Bain over SARS issue As global management consultancy Bain & Company’s involvement in the South African Revenue Service (SARS) scandal crystalises, leadership forum Business Leadership South Africa (BLSA) has announced t
11 October 2018
Namibia

Deloitte calls for disciplinary action against NAC officials Based on the exposure of collusive behavior in its forensic investigation from June this year, global professional services firm Deloitte has recommended the disqualification of several officials and
02 October 2018
South Africa

Steinhoff terminates temporary consulting relations with CFO and Director After a few months of continued but limited association with former CFO Ben la Grange and former Director Stehan Grobler, South African retail giant Steinhoff International has terminated their relat
06 September 2018
Kenya

Economic crime is becoming increasingly damaging to Kenyan businesses As the Kenyan economy develops at a rate more rapid than most other countries in Africa, the country continues to be heavily plagued by economic crime.
03 September 2018
United Kingdom

Number of Serious Fraud Office raids highest in six years With fraud in the UK at an alarming high, the Serious Fraud Office spent the past year trebling its efforts to gather information on major scam artists.
31 July 2018
Australia

Phoenixing costs Australia’s economy $5 billion, finds PwC report A high estimate of $5 billion is being wiped off Australia’s economy due to phoenixing, or illegally dissolving a company and then rebuilding it from the ashes according to a PwC report commissioned
26 July 2018
Ukraine

Almost half of Ukrainian companies were victims of fraud in last two years Almost half of companies in Ukraine were hit by economic crime in the last two years, according to a new study.
03 July 2018
Malaysia

KPMG says previous audits invalid in latest Malaysia 1MBD development In the latest 1MBD development, one-time auditor KPMG has informed the scandal-hit Malaysian state-fund that its previous audits are invalid.
29 June 2018

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