That familiar voice on the phone? Could be a deepfake. The face you've seen a thousand times in meetings? Don't assume it's the real person talking to you on a video call. Cyber criminals are perfecting new scams using AI,…
Fraud
How did a diversity, equity and inclusion (DEI) program manager defraud Facebook and Nike of more than $5 million? With the help of crooked relatives and friends, as it turns out. Former DEI program manager Barbara Furlow-Smiles was sentenced to…
You can't be too careful out there! Fraud is a risk in every area of finance -- even the auditor hired to analyze data and file truthful reports may be cutting corners. The Securities and Exchange Commission (SEC) charged a…
Threat actors, hackers, cyber thieves -- they go by many names, but they've all got one characteristic in common. They aim at the weakest links in the most vulnerable systems to exploit and then wreak havoc. A red-hot target? The…
The wave of tech fraudsters landing in the slammer rolls on. Elizabeth Holmes of Theranos infamy, crypto hustler Sam Bankman-Fried ... and now Manish Lachwani, the ex-CEO of HeadSpin, an analytics startup he co-founded. Lachwani inflated his company's worth and…
Looks like company executives are damned if they do and damned if they don't report a financial violation committed by their companies. The Department of Justice's (DOJ) criminal division clarified that its voluntary disclosure policy doesn't apply to chief executive…
Does it feel like the cost of nearly everything is on the rise or not coming down? Just when a commodity comes down in price, another one creeps back up? Gasoline and diesel prices at the pump are on the…
The Securities and Exchange Commission (SEC) under President Biden continues to make an example of companies and individuals that don't tell customers and investors the whole truth and nothing but. Two investment firms are the latest to feel the wrath…
Adopting AI in the workplace is going to be a struggle unless attitudes about the controversial technology improves. And there's no guarantee that finance professionals or the average American worker will ever learn to love, let alone trust, generative AI.…
A recent ransomware attack illustrates why an attacked company that pays ransom shouldn't expect the hackers to live up to their end of the bargain. Once upon a time, cyber thieves did exhibit a modicum of honor. They'd unlock a…
Finance teams need to be checking expense reports and payment card bills in 2024 to prevent fraud. Employees who normally wouldn't try passing off bills as business expenses may be feeling more pressure to give it a shot. Current economic…
Crooks have more tactics for committing payment fraud at their disposal than you think. For example, these are just the different types of phishing attacks being used to exploit busy A/P staffers and steal money and sensitive data from companies:…
