Frauds & Scandals

Missing $10.8bn audit report ready November —Okonjo-Iweala

The audit report on the alleged $10.8bn missing from the coffers of the Nigerian National Petroleum Corporation will be ready in November, the Minister of Finance, Dr. Ngozi Okonjo-Iweala, has said. The minister spoke at the Financial Times Africa Summit 2014 in London on Monday. She said there had been […]

States probe JPMorgan Chase as hack seen fueling fraud

Reuters/Fri Oct 3, 2014 Two U.S. states are investigating the theft of 83 million customer records from JPMorgan Chase & Co (JPM.N) in a massive cyber attack uncovered over the summer, and more may soon join, Reuters learned on Friday. Illinois Attorney General Lisa Madigan said she has launched a […]

Union Bank CEO Challenge Internal Auditors on e-Fraud

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Emeka Emuwa, group managing director of Union Bank of Nigeria Plc (UBN) has called on internal auditors in the banking industry to brace up and tackle emerging trends in electronic fraud, which have become a real threat to the survival of the sector, a statement […]