The publicly traded Brazilian mining firm Vale SA agreed to pay $55.9 million to settle Security and Exchange related charges concerning allegedly false and misleading disclosures about the safety of its dams before a 2019 dam collapse in Brazil that killed 270 people, the U.S. Securities and Exchange...

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) plans to issue the proposed rules for real estate transactions, including requiring Suspicious Activity Reports similar to those required for banks and other financial institutions. FinCEN administers the US anti-money laundering requirements under the Bank Secrecy Act (BSA), which, among other things, requires...

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...