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Fraud knows no boundaries. In the B2B space, the latest cases are spread across North America, Australia and the U.K.In the U.S., new reports from Th
stanley tumblers e New Yorker this week dove into how the current CFO of the National Rifle Association NRA allegedly embezzled funds from his last company, employee benefits consulting firm the Wyatt Company. Aside from the political implications of such claims, The New Yorker 8216 report point
stanley cup canada ed to the fraud risks that organizations face, even from the C-Suite.According to reports, the Wyatt Company accounts payable AP department received a call from one of its service providers, Associates Relocation Management ARM , which alerted Wyatt of an unpaid bill. The AP department, however, had a record of paying ARM. It was then revealed that the check was not deposited into the company bank account, but routed into a Maryland account owned by NRA CFO Wilson H. Phillips, Jr.The report claimed that Phillips ultimately embezzled at least $1 million from the company. It also highlighted the predicament that organizations face if a C-Suite executive is found committing fraud.Wyatt doors would have closed if the company prosecuted him, said Mary Hughes, Wyatt
stanley mugs AP manager, in an interview with the publication. I mean, we were dealing with people money, and our CFO was stealing.Similar predicaments of public image arise when a government falls victim to fraud.In Florida, The New York Llpq Alibaba s Ant Financial To Raise $3B
Contrary to recent inviting signals from Chin
stanley cup ese Premier Li Keqiang, executives with MasterCard and Visa are finding it increasingly difficult to get permission to
stanley termohrnek do business in China.Despite a World Trade Organization directive putting China on notice to open its bank card market by August 2015, the central government has no immediate plans for letting Visa or any other company substantially challenge UnionPay, the state-controlled firm that has exclusive permission from the People Bank of China PBOC 鈥?the nation central bank 鈥?to clear all domestic interbank payments, said a report in Caixin Online. As it stands, foreign bank card firms can ;t do business in China without working through the UnionPay network and paying its network access fees. They were also required to stamp all bank cards issued to its clients in China with the UnionPay logo, an
stanley mug agreement that fell apart in 2010 as their relationship with UnionPay went south.Earlier this month, UnionPay announced that new financial integrated cards issued by all banks must conform to the PBOC 3.0 standards. PBOC are the electronic payment standards solely used at POS and ATM; the problem is that they are solely used by UnionPay and are absolutely incompatible with EMV because they use different encryption methods. The story quoted a UnionPay technician as saying that the cost of swapping out one POS could cost several hundred yuan. Given that
