Posted by Connie Huang. According to Merriam Webster dictionary, fraud is “the crime of using dishonest methods to take something valuable from another person; a person who pretends to be what he or she is not in order to trick people; [or] a copy of something that is meant to look like the real thing in …
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Posted by Connie Huang. HSBC is a bank with locations in Europe. Two branches raided on or about February 18, 2015 by Swiss authorities are located in Geneva. They raided the banks, because the banks are accused of money laundering. Money laundering is “a financial transaction scheme that aims to conceal the identity, source, and …
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The European ATM Security Team (EAST) discovered that ATM hackers are now drilling holes in ATM machines near the card reader and installing electronic devices which tap into the “read head” of the magnetic strip reader to steal information. Normally, thieves would “skim” the information on the magnetic strip through an “overlay” device that would actually …
Under new FDA rules, movie theaters, chain restaurants, and supermarkets with 20 or more locations will have to provide calorie counts on the foods they sell. The stores have until November 2015 to comply and provide calorie information on their menus. Amusement parks, vending machines, bakeries, coffee shops, and convenience stores must also comply with …
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Posted by Kimberly McNamara. A former controller of the Hereditary Disease Foundation, a nonprofit group out of New York that encourages and contributes to studies and other research dealing with congenital diseases, has been indicted, this year, for embezzlement of over $1.8 million. The organizations former controller, Karen Alameddine, who was responsible for managing finances from 2005 through …
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Posted by Deena Khalil. On Wednesday, November 6, 2014, there was a court hearing about big-time banks being sued for manipulating a financial benchmark, Libor, by “U.S. municipalities and financial funds who argue they suffered financial damages by receiving lower interest rates on transactions as a result of the suspected manipulation.” Libor is short for …
Posted by ZaAsia Thompson-Hunter. The Federal Communications Commission(FCC) is trying to enforce the disclosure of media contracts from various media companies. These companies include widely recognized corporations such as Disney, CBS, Comcast, Time Warner, and many more. These highly established media corporations oppose the order because they affirm this action will put them at a competitive …
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Posted by Kimberly McNamara. The idea of pensions have been around for nearly 100 years. Detroit, a city that recently filed for bankruptcy, is now facing more monetary concerns, and many are looking for someone to blame. According to The New York Times, the city of “Detroit has been a client of Gabriel Roeder since …
Posted by Abier Mustafa. Stryker Corp., a device maker company, recalled its Rejuvenate and ABG II hip implant devices in July 2012 after warning surgeons they could harm tissue around the hip and cause other health problems to its patients. Patients have complained of severe pain, unusual swelling and excessive metal debris in their blood, blaming …
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Posted by ZaAsia Thompson-Hunter. The European Union isn’t happy with Honeywell and DuPont because they believe they are breaking antitrust rules. Honeywell and DuPont are the only two companies that produce the chemical R-1234yf. This chemical is used to produce the only car-coolant that meets the standards on the European Union’s greenhouse-gas emissions. By working …
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