PurposeWhile several facets of financial misconduct have been explored, one aspect which has largely bypassed the attention of researchers is the factors affecting such misconduct behavior in banks. To investigate this in detail, this paper aims to use disaggregated data on Indian banks for an ...
Adverse media screening is a part of the Know Your Customer (KYC) process, designed to combat the risk of being used to launder criminal proceeds. The FCA notes that adverse media screening can help in determining the risk a third party presents to a financial organization, but they do not...
according to Shinkman. In traditional programs, managing risk has typically been the job of the business leaders in charge of the units where the risk resides. For example, the CIO or CTO is responsible for IT risk, the CFO is responsible for financial risk, the COO foroperational riskand ...
Mistakes are an inevitable part of any business. These lapses, however, can result in huge financial losses and reputational damage, particularly if a client decides to sue. This is where professional indemnity insurance comes into play. Although not always legally required, this ...
The company is liable to compensate parties that incurred losses arising from a director's or senior management's performance of duties. However, if damage is due to intentional misconduct or gross negligence, then the director or ...
The Securities and Exchange Commission (SEC) is the U.S. government agency in charge of the nation's securities industry. It monitors transactions, as well as the activities of financial professionals. Its mission is to promote fairness, integrity and transparency; prevent fraud and other deceptive...
Corporate fraud is the broad category of illegal activities carried out by a company or individuals within it. Accounting fraud falls under this umbrella.Corporate fraudalso includes insider trading, bribery, money laundering, tax evasion, and other forms of financial and nonfinancial misconduct. A s...
Indeed, fear of retaliation is one of the primary reasons employees cite for not reporting unethical behavior in the workplace. ECI says companies should work toward improving theircorporate cultureby reinforcing the idea that reporting suspected misconduct is beneficial to the company. Additionally, th...
An agent is often liable to their principal if they violate their duty or deviate from a reasonable, expected action performed on behalf of the other party. This may be the result of exceeding the authority they've been given, acting in misconduct, being unreasonably negligent, or any other ...
The new consolidated loan is then eligible for Public Service Loan Forgiveness (PSLF).6 Bear in mind that your student loan servicer handles the repayment of your federal student loans, so you'll have to work with your servicer to enroll in a repayment plan or change your current one.7...