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Internal Controls Scams

Lowenstein Sandler LLP

Emerging Threat: Task-Based Employment Scams Target Businesses and Their Employees

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A new wave of sophisticated gamified job scams, often called task scams, is targeting both companies and job seekers, according to recent Federal Trade Commission (FTC) data. These scams trick people into performing simple,...more

K2 Integrity

Romance Scams Could Result In Risks For Organizations And Employees

K2 Integrity on

While romance might be viewed as a personal matter, an employee falling for a romance scam can have a direct impact on an organization’s bottom line. Not only could their performance suffer, but a criminal may try to steal...more

Bennett Jones LLP

Business Email Compromise: Protect Your Company From This Common Scam

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Between 2016 and 2019, Business Email Compromise (BEC) scams cost American organizations US$3.1 billion in losses and Canadian organizations US$33.6 million. This type of pervasive scam targets large and small businesses...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

The Fed wrapped its January meetings yesterday with the expected news that it would leave the benchmark interest rate unchanged and the less-guaranteed report that it was hitting the pause button on future rate hikes (aka,...more

Perkins Coie

SEC 21(a) Report Warns Public Company Email Scam Victims of Bigger Problems Than Stolen Money

Perkins Coie on

Known by many names, including business email compromise fraud, CEO or CFO fraud, impersonation attacks, or “Man-in-the-Email” scams, cyber-related frauds involving spoofed or otherwise compromised business electronic...more

Bass, Berry & Sims PLC

SEC Issues Report Warning about Fake Email Scams

Bass, Berry & Sims PLC on

On October 16, 2018, the SEC issued a 21(a) report announcing that it had investigated whether certain public companies that were victims of oftentimes unsophisticated, cyber-related frauds had violated federal securities...more

Bass, Berry & Sims PLC

Don’t Let Spoofing Fool You – SEC Says Internal Accounting Controls Should Address Cyber Threats

Bass, Berry & Sims PLC on

On October 16, 2018, the SEC released an Investigative Report detailing recent email spoofing schemes that caused nine public companies to lose a total of nearly $100 million. Building on its February 2018 guidance about the...more

Akin Gump Strauss Hauer & Feld LLP

SEC Warns Companies of Potential Internal Accounting Control Violations with Business Email Compromise

• The SEC issued guidance in the form of a rare “21(a) report” this week after investigating a series of email frauds impacting 9 unnamed companies. • These email-based frauds, referred to as “CEO scams” or “vendor scams,”...more

Cooley LLP

Blog: SEC issues Section 21(a) investigative report regarding the implications of cyberscams for internal controls

Cooley LLP on

Yesterday, the SEC issued an investigative report under Section 21(a) that advises public companies subject to the internal accounting controls requirements of Exchange Act Section 13(b)(2)(B) of the need to consider cyber...more

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