The unregulated broker-dealer unit of Refco Inc., Refco Capital Markets Ltd, says it owes customers about $4.16 billion. This is $486 million more than previously estimated by the parent company. Refco Inc. has filed for bankruptcy protection, and in those […]

The New Yorker recently printed a commentary on Sarbanes-Oxley. While the legislation was viewed by politicians as an important step toward protecting investors from fraud, corporate executives aren’t so impressed. Corporate executives believe that the high cost of implementing the […]

Testing of airport screeners, using images of guns and banned objects during the airport X-ray of bags, had some interesting results. When using a library of 250 images, the performance of the screeners (how often they detected the items) went […]

49 people have been indicted for participating in a scheme that defrauded the Red Cross out of hundreds of thousands of dollars earmarked for Katrina victims. 17 of the people worked at a Red Cross claim center in Bakersfield, CA. […]

Gary Linsey Slater of Harrogate, Tennesee was sentenced to nine years in prison for committing mail fraud and money laundering. Slater owned a company that leased employees to coal mining companies. He conspired to hide the number of employees employed […]

An e-mail directing someone to a website called ebaychristmas.net was reported to eBay as potentially fraudulent. The website requested users to enter their eBay user names and passwords, as well as information about e-mail accounts. The investigations team for eBay […]

Richard Scrushy, former CEO of HealthSouth, is suing the company for $70 million related to his March 2003 firing. He was fired following the discovery of a $2.7 billion fraud at the company. Scrushy claims that since he was acquitted […]

If yesterday’s post about ID theft made you feel badly, this post will probably make you feel worse. The Privacy Rights Clearinghouse has assembled a listing of the security breaches since the February 15, 2005 Choicepoint breach. These breaches were […]

An analysis done by ID Analytics, a San Diego fraud detection company, shows that people whose personal data is compromised have a low risk of becoming victims of identity theft. This includes those whose credit cards are lost or stolen. […]

The Securities & Exchange Commission is set to issue guidelines on fines for corporate wrongdoer. SEC Chairman Christopher Cox is pushing for standards in levying fines, and would like those guidelines available to the public. The standards won’t speak to […]