These charges follow in the wake of the Marcum $10m penalty for standards violations and systemic quality control failures regarding the audit of numerous special purpose acquisition companies (SPACs). As a leading auditor of SPACs, the company experienced an approximately six-fold increase in clients, who allegedly took advantage of the significant quality control gaps. Don’t…
Read moreThe Federal Reserve has informed the public that work will begin this month on a new study that will measure fraud and associated costs in the U.S. payments system and identify the causes and contributing factors to fraud. The study is part of the Federal Reserve's ongoing effort to improve and support payment security throughout…
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The Payment Systems Regulator (PSR), the economic regulator for the £75 trillion UK payment systems industry, has today published draft Terms of Reference outlining how it intends to review whether the operators of CHAPS and Faster Payments Scheme (FPS), need to play an expanded role in helping to minimise consumer harm caused by particular types…
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