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Courageous Whistleblowers Reclaim Derogatory Terms As Data Shows 80% of Financial Professionals Stay Silent on Suspected Internal Fraud, Fearing Retaliation
- Enron whistleblower, Sherron Watkins, alongside stars of Apple TV’s The Big Conn, Sarah Carver and Jennifer Griffith, reclaim derogatory labels for whistleblowers
- Concerning new data shows more than half of financial professionals in the UK and US have spotted or suspected internal fraud in their workplaces, yet four out of five stay silent fearing retaliation
- 32% of professionals in finance have seen whistleblowers victimized behind their back or to their face
JACKSONVILLE, Fla., May 22, 2024 /PRNewswire/ — New data from fraud detection software company Medius shows more than half of financial professionals in the UK and US (56%) have spotted or suspected internal fraud in their workplaces yet four in five (81%) stayed silent. When asked why, 45% of professionals cited the fear of recrimination.
Whistleblowers Sherron Watkins, Sarah Carver and Jennifer Griffith have joined forces to reclaim the derogatory names they were called after reporting serious internal financial fraud.
To help empower others to come forward, the whistleblowers are reclaiming the terms “snitch”, “rat” and “traitor”.
Sherron Watkins is the former Vice President of Enron Corporation who alerted the CEO to accounting irregularities, warning the organization “might implode in a wave of accounting scandals.” Watkins received national acclaim for her courageous actions and TIME magazine named her along with two others as their Persons of the Year in 2002, calling them simply ‘The Whistleblowers.’
Sarah Carver and Jennifer Griffith are the stars of Apple TV’s The Big Conn after they exposed a fraud scheme of more than $550 million while employed at the Social Security Administration. In efforts to silence their disclosures, they experienced multiple acts of severe retaliation and were denied protection. Ultimately, both Carver and Griffith were forced from employment.
Concerns of repercussions are vindicated – the survey reveals the extent to which financial professionals in the UK and US have witnessed negative consequences for whistleblowers firsthand:
- 59% have seen whistleblowers subsequently left out of important decisions
- 33% have seen whistleblowers moved to a different team
- 32% have heard whistleblowers called derogatory names behind their backs or directly to their face
When asked what would encourage them to flag suspicious activity, 93% of workers surveyed would feel more comfortable doing so if they had more evidence, yet nearly half (48%) said the legal system simply does not adequately protect whistleblowers.
Jim Lucier, CEO at Medius, a leading global provider of cloud-based accounts payable automation and spend management solutions, said:
“White collar crime is on the rise and no organization is safe. Employees are the last line of defense against fraud but confidence to report suspicious activity is declining. AI anomaly-detection technology can provide employees with the evidence and assurances they need to be more forthcoming. Building a culture where employees feel comfortable to report their suspicions could save organizations millions in the long-run.”
Medius works with over 4,000 customers across 102 countries and processes $200 billion in annual spend. It uses the power of AI and automation to detect fraud, the moment invoices are submitted safeguarding against bad actors and potential threats, internal and external.
Sherron Watkins, whistleblower who was called a “snitch” said: “When someone is troubled by corporate wrongdoing and they attempt to sound the alarm, the pathway is uncharted, things happen organically. Normal rational people speak about their concerns with their closest friends and work colleagues, who often suggest staying safe saying “keep your head down, if you must report, go soft, nothing black and white.” Yet black and white evidence is what is needed to get the attention of those in power, either internally or with media or outside watchdog groups to prevent or stop fraudulent activity.”
Jennifer Griffith, whistleblower who was called a “traitor” said: “Choosing to blow the whistle involves more than just the desire to right a wrong. It’s about protecting their employers from fraud. However, it’s more often than not seen as causing trouble for the employer, or as a self-serving action to get a financial reward. No one who chooses to blow the whistle expects to have their reputation attacked, their credibility impugned or to lose their job. The cost of ignoring a whistleblowers complaints are far greater than acknowledging that a problem exists and taking steps to fix it. It’s been 19 years since I blew the whistle and the problems that existed then with the Social Security Administration still exist today. We must do more to protect whistleblowers.”
Sarah Carver, whistleblower who was called a “rat” said: “The government’s attempt to conceal the fraud resulted in exacerbated damage, whereas a more prudent approach would have entailed immediate acknowledgement and rectification upon initial disclosure. The retaliatory measures aimed at silencing me made me stronger and fight harder to find someone to listen and stop the fraud.”
The billboard advertising campaign runs on Wall Street from Saturday, 18th May to Friday, 24th May 2024.
For more information about how Medius can prevent fraud, visit: https://www.medius.com/whistleblowing/
For more information, please contact:
Fight or Flight for Medius
[email protected] / +44 330 133 0985
This information was brought to you by Cision http://news.cision.com
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ComplyCube, Signicat add features to strengthen fintech AML capabilities
The financial technology sector is experiencing a surge of strategic collaborations and innovative solutions to enhance security and compliance.
From strengthening know your customer (KYC) and anti-money laundering (AML) processes to introducing advanced biometric identification features, companies are making significant strides to safeguard their operations and customer transactions. ComplyCube and Signicat have each added capabilities to benefit regulated businesses, while Identomat has announced two new clients, and iDenfy has revealed a customer win.
ComplyCube Adds Trust Center to KYC, AML Platform
ComplyCube has launched a Trust Center to enhance its identity verification, KYC, and AML platform, helping clients navigate complex regulatory scenarios.
The company highlights that compliance failures cost businesses over 2.7 times more than maintaining regulatory obligations, and those with robust compliance programs incur 30 percent lower costs for security incidents.
The new Trust Center features a real-time compliance dashboard and a resource hub with documents, certification information, and regulatory guidelines. It also offers incident reporting and tracking.
“Clients and partners can find answers to many data protection questions, view active controls, and request documents for due diligence,” says ComplyCube Business & Partnerships Manager Joshua Dent. “It’s great to see this platform live following our recent certifications, such as UK DIATF, ISO 9001, PAD Level 2 ISO 30107-3, and ISO 27001:2022 upgrade.”
Signicat Rolls Out Selfie Biometric Authentication
Signicat has introduced biometric facial authentication to its MobileID platform to enhance the security of mobile apps for financial and regulated service clients.
Signicat’s Face Authentication includes a 3D liveness check and face match, effectively protecting against fraud involving photos, deepfake videos, and other spoofs.
Identity fraud driven by AI is a growing threat, accounting for over 42 percent of total attacks, according to a recent Signicat report.
“As fraud tactics evolve, so must our solutions,” says Simone Andersson, Signicat Product Manager for Mobile Identity. “This new feature is a testament to our dedication to staying ahead of the curve and ensuring our clients can operate securely in the digital landscape. Our MobileID solution is PSD2 compliant and meets all requirements from regulated sectors.”
NovaPay and WARD Ops Select Identomat
NovaPay, a provider of online and offline financial services in Ukraine, has partnered with Identomat to improve its KYC and AML processes. This collaboration aims to bolster NovaPay’s ability to offer secure and efficient financial services.
Identomat’s AI-powered technology supports remote identity verification, ensuring compliance with regulatory requirements in over 200 countries and mitigating financial transaction risks. In just six months, NovaPay and Identomat have already served nearly a quarter of a million customers.
David Lomiashvili, CEO of Identomat, expressed enthusiasm about the partnership, highlighting the company’s commitment to optimizing identity verification processes. Identomat has passed several security and compliance evaluations, including iBeta level 2, ISO/IEC 30107-3, and ISO/IEC 27001. Together, NovaPay and Identomat aim to set new standards in customer verification and fraud prevention in Ukraine’s financial industry.
WARD Ops, an IT outsourcing provider, has also announced a strategic partnership with Identomat to enhance digital operations. WARD Ops offers services such as monitoring, incident management, QA, robotic process automation, software implementation, and integrations.
Identomat provides AI-driven identity verification and KYC solutions to support secure and compliant operations. The partnership aims to enhance security protocols and deliver integrated solutions, representing a significant step forward in providing businesses with a seamless, secure, and efficient operational environment.
iDenfy Chosen by Watchdreamer for Enhanced Security
Watchdreamer, a watch e-commerce marketplace in Switzerland, has selected Lithuania-based iDenfy to enhance its customer verification processes. iDenfy’s KYC software will ensure the authenticity of Watchdreamer’s customers, streamlining the user registration process and providing a secure purchasing experience.
The partnership addresses the challenges of fraud and money laundering in the luxury watch market. iDenfy’s advanced biometric and facial recognition algorithms will help verify the identity of users, ensuring compliance with legal requirements and increasing transparency.
Ronan Pensivy, COO of Watchdreamer, emphasizes the importance of compliance and providing an exceptional client experience. Domantas Ciulde, CEO of iDenfy, highlights the collaboration’s goal of delivering a secure and efficient online shopping journey for Watchdreamer’s customers.
Source: biometricupdate.com
The post ComplyCube, Signicat add features to strengthen fintech AML capabilities appeared first on HIPTHER Alerts.
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FP Markets Adds Two More Industry Benchmark Awards to Its Collection
SYDNEY, June 21, 2024 /PRNewswire/ — Extending its winning streak, global multi-asset Forex and CFD broker, FP Markets, was crowned ‘Most Transparent Broker’ and also took home ‘Best Trading Conditions’ for the second year in a row at the highly anticipated Global Ultimate Fintech (UF) Awards 2024. Following last year’s ‘Most Trusted Broker’ acknowledgement and the ‘Best Trade Execution’ award received in 2022, the FP Markets trophy cabinet now includes five esteemed Global UF Awards.
Established to honour the most outstanding B2C and B2B brands in the online trading and fintech domain and provide traders and businesses with an industry benchmark, the UF Awards are widely considered as one of the sector’s most sought-after prizes. Claiming two accolades this year marks another significant milestone in FP Markets’ 19-year history, especially since the UF Awards are directly determined by the votes of industry professionals, fintech enthusiasts, and online traders.
Invited on stage to receive the award, FP Markets CEO Craig Allison expressed his gratitude and commented: ‘The two UF Awards we’ve won tonight are the embodiment of what we strive to achieve as a company on a daily basis: deliver a superior trading destination for traders while at the same time uphold our core values of integrity, transparency and innovation and we continue to find ways to provide the best possible trading conditions’.
The awards ceremony took place at the exclusive Columbia Beach venue in Limassol, Cyprus, as part of the closing party of the 13th iFX EXPO International. With a record-breaking attendance of over 4,000 visitors from 120 countries and 1,400 companies, the iFX EXPO International – one of the flagship gatherings for the trading industry – brought together executives from the world’s top financial brands, fintech innovators and other stakeholders. Earlier in the week, FP Markets Global Head of Marketing, Andria Phiniefs was a guest on the panel at the iFX Expo’s Idea’s Hub ‘Marketing Beyond the Transaction: Building a Trusted Trading Brand’ speaking about the significance of ‘brand trust and reputation’ as the most important drivers behind the broker’s growth strategy.
Notes to Editors
About FP Markets:
- FP Markets is a Multi-Regulated Forex and CFDs Broker with over 19 years of industry experience.
- The company offers highly competitive interbank Forex spreads starting from 0.0 pips.
- Traders can choose from the leading powerful online trading platforms, including FP Markets’ Mobile App, MetaTrader 4, MetaTrader 5, WebTrader, cTrader, Iress and TradingView.
- The company’s outstanding 24/7 multilingual customer service has been recognised by Investment Trends and awarded ‘The Highest Overall Client Satisfaction Award’ over five consecutive years.
- FP Markets was awarded ‘Best Global Forex Value Broker’ for five consecutive years (2019, 2020, 2021, 2022, 2023) at the Global Forex Awards.
- FP Markets was awarded the ‘Best Forex Broker – Europe‘ and the ‘Best Forex Partners Programme – Asia‘ at the Global Forex Awards 2022 and 2023.
- FP Markets was awarded ‘Best Trade Execution’, and ‘Most Trusted Broker’ and ‘Best Trade Execution’ at the Ultimate Fintech Awards 2022 and 2023.
- FP Markets was crowned ‘Best CFD Broker in Africa‘ at FAME Awards 2023.
- FP Markets was awarded ‘Best Trade Execution’ and ‘Most Transparent Broker’ at the Ultimate Fintech Awards APAC 2023.
- FP Markets regulatory presence includes the Australian Securities and Investments Commission (ASIC) Financial Sector Conduct Authority (FSCA) of South Africa, the Financial Services Commission (FSC) of Mauritius, the Cyprus Securities and Exchange Commission (CySEC), the Securities Commission of the Bahamas (SCB) and the Capital Markets Authority (CMA) of Kenya.
- FP Markets was awarded the Best Price Execution Award at the Brokersview Awards 2024 Singapore.
- FP Markets was awarded the ‘Best Trading Experience – Africa‘ at FAME Awards 2024.
For more information on FP Markets’ comprehensive range of products and services, visit https://www.fpmarkets.com/
Photo: https://mma.prnewswire.com/media/2445245/GLOBAL_UF_AWARDS.jpg
Logo: https://mma.prnewswire.com/media/1574261/4776402/FP_Markets_Logo.jpg
![FP Markets Logo FP Markets Logo](https://mma.prnewswire.com/media/1574261/4776402/FP_Markets_Logo.jpg)
View original content:https://www.prnewswire.co.uk/news-releases/fp-markets-adds-two-more-industry-benchmark-awards-to-its-collection-302179267.html
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New Amsterdam Invest N.V. annual general meeting results: interim dividend approved
AMSTERDAM, June 21, 2024 /PRNewswire/ — New Amsterdam Invest N.V. (the “Company”, or “New Amsterdam Invest”, or “NAI”), listed on Euronext Amsterdam, announces that at its annual general meeting of shareholders, held today at Van der Valk Hotel Utrecht, the Netherlands (“AGM”), all resolutions were duly passed.
This means amongst others, that the proposed interim dividend payment has been approved; 99.90% of the NAI-shareholders voted in favor. The results of all other voting items are listed below.
Other resolutions passed at the AGM
The AGM adopted the following items including the votes cast.
As at the AGM, in total 5,315,355 votes could be validly cast. The total number of shares for which valid votes were cast at the AGM amounted to 1,965,966 being 37% of the issued and outstanding share capital of NAI.
In accordance with section 2:120 paragraph 5 of the Dutch Civil Code, the outcome of the voting on the proposals discussed at the AGM is as follows:
Agenda item |
For |
% |
Against |
% |
Abstain |
% |
|
5 |
Adoption of annual |
1,945,966 |
99.49 |
0 |
0.00 |
10,000 |
0.51 |
6 |
Advisory vote on the |
1,860,966 |
94.66 |
0 |
0.00 |
105,000 |
5.34 |
7 |
Discharge of each of the i. Aren van Dam
ii. Arie Johannes Maarten
iii. Cornelis Maartinus
iv. Elisha Sjemtov Evers |
i. 1,953,966
ii.1,893,966
iii. 1,878,966
|
99.39
97.33
96.56
97.61 |
2,000
42,000
42,000
2,000 |
0.10
2.16
2.16
0.10 |
10,000
10,000
25,000
45,000 |
0.51
0.51
1.28
2.29 |
8 |
Discharge of each of the i. Jan Louis Burggraaf
ii. Paulus Johannes iii. Elbert Dijkgraaf |
i. 1,918,966
ii. 1,928,966
iii. 1,938,966 |
98.61
98.12
98.63 |
2,000
2,000
2,000 |
0.10
0.10
0.10 |
25,000
35,000
25,000 |
1.28
1.78
1.27 |
9 |
Authorisation of the Board |
1,930,966 |
98.22 |
0 |
0.00 |
35,000 |
1.78 |
10 |
Designation of the Board of |
1,930,966 |
98.22 |
0 |
0.00 |
35,000 |
1.78 |
11 |
Designation of the Board of |
1,930,966 |
98.22 |
0 |
0.00 |
35,000 |
1.78 |
12 |
Re-appointment of BDO |
1,965,966 |
100.0 |
0 |
0.00 |
0 |
0.00 |
14 |
Interim dividend payment |
1,963,966 |
99.90 |
2,000 |
0.10 |
0 |
0.00 |
Financial Calendar 2024
- Approval interim dividend € 0,225 per ordinary share: 21 June
- Ex-dividend: 25 June
- Record date: 26 June
- Payment date: 28 June
- Publication of unaudited Half Year Report 2024 NAI: 29 August
About New Amsterdam Invest
New Amsterdam Invest N.V. is a commercial real estate company listed at Euronext Amsterdam with operating companies in the United States and the United Kingdom.
The main objective of New Amsterdam Invest is running commercial activities including the owning, (re-)developing, acquiring, divesting, maintaining, letting out and/or otherwise operating commercial real estate, all in the broadest possible meaning.
All information about New Amsterdam Invest, including its principles and objectives can be found on the company website: www.newamsterdaminvest.com
Disclaimer
Elements of this press release contain or may contain information about New Amsterdam Invest N.V. within the meaning of Article 7(1) to (4) of the EU Market Abuse Regulation.
This press release may include statements, including NAI’s financial and operational medium-term objectives that are, or may be deemed to be, ”forward-looking statements”. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms ”believes”, ”estimates”, ”plans”, ”projects”, ”anticipates”, ”expects”, ”intends”, ”may”, ”will” or ”should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect NAI’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to NAI’s business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made.
View original content:https://www.prnewswire.co.uk/news-releases/new-amsterdam-invest-nv-annual-general-meeting-results-interim-dividend-approved-302179100.html
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