The author of this article in Business World, Roderick M. Vega, describes fraud risk management as a sub-branch of enterprise risk management and lists the three major categories of fraud as fraudulent statements, asset misappropriation, and corruption. Like an ERM…
My favourite fraud ever
My favourite financial fraud of all time has to the work of John M. Rusnak at Allfirst Bank, a sub of Allied Irish Bank, perpetrated in 2001. Following the events which cost this Irish bank tens of millions of losses,…