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Are you ready to fight fraud?

Strengthening the internal control system and the control environment will help reduce the likelihood of fraud happening as well as the impact of fraud, if it occurs. 49% of respondents in the 2018 PwC Global Economic Crime and Fraud Survey said their companies had experienced fraud or economic crime, compared to 36% in 2016. Read more at https://blog.fraudcracker.com/are-you-ready-to-fight-fraud/

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This is a WhatsApp whistleblowing message. I don’t know how else to do it

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In 2016, out of desperation while on a pilgrimage in France, former SAA treasurer Cynthia Stimpel sent a WhatsApp to National Treasury, warning them of a dirty deal in the making at SAA. It was ignored. They had blocked her at every turn, but Stimpel was relentless in her efforts to stop a R15b cash-raising deal from being pulled off outside of due process – and with the help of BnP Capital as transaction adviser for R225m – while South African banks could do it for +/-R85m. Stimpel was fired for standing up to corruption. Find out more at https://blog.fraudcracker.com/this-is-a-whatsapp-whistleblowing-message-i-dont-know-how-else-to-do-it/


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KPMG fallout: cheating allegations raise new questions

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After new allegations of KPMG cheating on internal training tests, audit committees now have questions about their external auditors’ own adherence to standards: are controls in place, are they well-designed, and are they operating effectively? Find out more at https://blog.fraudcracker.com/kpmg-fallout-cheating-allegations-raise-new-questions/


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Record number of CEOs fired for ethical lapses

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A record 18% of CEOs in the top 2500 global public companies were replaced in 2018, with 39% fired for ethical lapses. This is according to a PwC study released May2019, It’s the 1st time in the study’s history that ethical lapses led the causes of CEO turnover. Read more at https://blog.fraudcracker.com/record-number-of-ceos-fired-for-ethical-lapses/