Perspectives on entrepreneurship, MBA-related issues, networking, personal branding, technology, investing, education and more…

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Thank you to all the whistleblowers out there

Yesterday 30-July was Whistleblower Appreciation Day in the US, while 23-June was World Whistleblower Day. It’s our way of saying a big thank you to the people with the courage to speak out against corruption, fraud and wrongdoing. Let’s celebrate them and protect them! They make the world a better place for us and our kids. https://blog.fraudcracker.com/thank-you-to-all-the-whistleblowers-out-there/

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Ghost workers could kill your company

Are you paying salaries to people who don’t work for you, or who don’t exist? Ghost worker fraud on payroll is very hard to detect, especially in bigger companies without proper controls. It can lead to substantial financial losses, killing your company over time. So how can you stop it happening? https://blog.fraudcracker.com/ghost-workers-could-kill-your-company/

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Facebook slapped with record $5bn fine over privacy breaches

The FTC, a US government agency, has slapped tech giant Facebook with a record $5bn fine over privacy breaches – 20x more than any privacy fine imposed so far worldwide. Facebook must pay the fine, submit to new restrictions and a revised corporate structure, and set up strong new mechanisms from board-level down that will hold the firm and its execs accountable for their decisions about users’ privacy. Find out more at https://blog.fraudcracker.com/facebook-slapped-with-record-5bn-fine-over-privacy-breaches/

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Ethical leadership means first do no harm, in business and in life

We can’t expect others to do the right thing when we continue to do wrong. When balancing the needs of the 4 stakeholders in any business, a guiding mantra is this: we serve the customers, not the shareholders; we reward the shareholders; we support our staff to serve the customers, and we improve our communities. Read more at https://blog.fraudcracker.com/ethical-leadership-means-first-do-no-harm-in-business-and-in-life/

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A R1.2bn pot of toxic soup at EOH

Eight people. That’s all. Just eight people out of EOH’s staff of 11,500 put the entire firm at risk through a systematic process of fraud, corruption and bribery that saw R1.2bn of shady flow out of the company between 2014 and 2017. EOH believes it has stopped the rot. Only time will tell. https://blog.fraudcracker.com/a-r1-2bn-pot-of-toxic-soup-at-eoh/

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Forensic probe uncovers R1.2bn in suspicious transactions at EOH

According to an update today, law firm ENSafrica has found evidence of and is investigating R1.2bn in suspicious transactions at EOH. These may be valid transactions, theft or bribery and corruption payments. Yesterday EOH announced the resignations of 3 top execs. Find out more at https://blog.fraudcracker.com/forensic-probe-uncovers-r1-2bn-in-suspicious-transactions-at-eoh/