Quotes about anti-fraud (4 Quotes)

Bud has found creative ways to keep it (the anti-fraud unit) going, but if you can't generate funding, then you've got decisions to make.

Enforcement efforts should focus on aggressive prosecution of bad actors under existing anti-fraud laws rather than imposing costly and largely ineffective procedural requirements on all public companies.

Regulations require broker-dealers to create and preserve a comprehensive record of each securities transaction they effect and of their securities business in general. These requirements are integral to the investor protection function because the preserved records are the primary means of monitoring compliance with applicable securities laws, including anti-fraud provisions and financial responsibility standards.

Banks will pursue these funds and call in collection agencies but in the end the majority will write-off the debt without understanding the root cause of the fraudulent loss. In many case banks don't even know about the problem so they don't have an incentive to fix the loss, ... Perhaps it's cynical to say this but banks would rather let people in and deal with fraudulent losses, which they pass on to retailers and customers anyway. There are many dedicated people in bank anti-fraud departments but institutionally they are not that motivated.