June 23, 2020 - Internal Audit 360

How Did $2 Billion Vanish from a German Digital Payments Firm?

On June 23, 2020July 6, 2020 By Stephanie Liu

The accounting woes of German digital payments company, Wirecard AG, appear to be deepening. The company said in a statement on Monday that there is a “prevailing likelihood” that the 1.9 billion euros ($2.15 billion) missing from its accounts had never existed in the first place. Wirecard first announced the Read More

Commerzbank Fined $47 Million for Lax AML Controls

On June 23, 2020 By IA360 Staff

Commerzbank’s London unit was fined 37.8 million pounds ($47.3 million) by the U.K. for failing to have proper money-laundering controls, according to the Financial Conduct Authority. The bank, Germany’s second-largest lender, did not conduct on-time due diligence checks on 1,772 customers in 2017, and most of the clients had continued Read More

Day: June 23, 2020

How Did $2 Billion Vanish from a German Digital Payments Firm?

Commerzbank Fined $47 Million for Lax AML Controls

PACS Delays Earnings Amid Internal Audit Investigation

TD Bank to Pay $3B in Plea to Settle Money-Laundering Case

Chartered IIA Releases New Internal Audit Code of Practice

The IIA Names Terry Grafenstine as New Chair of Its Global Board

Silvergate Settles SEC Charges for Compliance Failures

Supreme Court Curbs SEC’s Use of In-House Tribunals