Tag: fraud

Andrew Kan, director of Hong Kong based forensic accounting firm JLA Asia, gives advice on recognising a fake document from China and the new fapiao (发票) system reforms.

In a record year for anti-money laundering penalties, US regulators slapped multinational banks with more than $1.1 billion in fines in 2012, specifically for ‘payment stripping’ and knowingly making payments to sanctioned countries.

After rumblings of factoring/forfeiting fraud occurring in China, CT asked Mat Ng of forensic accounting firm JLA Asia to outline how to spot the tell tale signs.

Shareholder and regulatory pressure has spurred companies to conduct more compliance checks. CT asks Torsten Duwenhorst, partner of forensic technology and discovery services at Ernst & Young, how to maximise value from these data mining.

Asian-based companies are apparently lacking the wherewithal to fight corruption and India, Indonesia and China are suffering most for it in the fraud league tables.

SEC exposes governance and financial faults of US-listed Chinese companies, again.

The latest fraud survey by Ernst & Young reveals as the economic downturn draws on, CFOs in Asia are more willing to massage company numbers to keep ahead of the game.

Deloitte is stuck between a Chinese rock and a US hard place.