Category: Banking

Top 5 Financial Auditor Certifications with Global Recognition

Top 5 Financial Auditor Certifications with Global Recognition

Banking, Finance July 29, 2024

Top 5 Certifications in Auditing that are Globally Recognized

Top 5 Certifications in Auditing that are Globally Recognized

Banking, Finance July 7, 2023

Top 5 Global Certifications that helps you get a job in the Banking Industry

Top 5 Global Certifications that helps you get a job in the Banking Industry

Banking June 13, 2023

How can Banking sector embrace Artificial Intelligence and Machine Learning

How can Banking sector embrace Artificial Intelligence and Machine Learning

Banking May 7, 2023

Bank frauds have had significant repercussions on the financial industry throughout history. While I can provide information on some of the most notable bank frauds, it's important to note that the scale and impact of these events can vary. Here are five notable bank frauds: BCCI Fraud: The Bank of Credit and Commerce International (BCCI) fraud was one of the largest financial frauds in history. It involved money laundering, embezzlement, and fraudulent lending practices. BCCI's collapse in 1991 resulted in losses estimated between $9 billion and $15 billion. Madoff Ponzi Scheme: Bernard Madoff's Ponzi scheme is one of the most infamous investment frauds. Madoff, a former chairman of the NASDAQ stock exchange, defrauded investors out of an estimated $65 billion. The scheme collapsed in 2008, leading to Madoff's arrest and subsequent conviction. Punjab National Bank (PNB) Fraud: In 2018, the PNB fraud in India made headlines. It involved fraudulent transactions and the issuance of unauthorized letters of undertaking, resulting in losses worth approximately $2 billion. The fraud was orchestrated by a jeweler and involved collusion with bank employees. Société Générale Fraud: In 2008, Société Générale, a French bank, experienced a significant fraud committed by trader Jérôme Kerviel. Kerviel engaged in unauthorized and fraudulent trading activities, resulting in losses of around €4.9 billion ($6.7 billion) for the bank. Banco Espírito Santo (BES) Fraud: The collapse of Portugal's Banco Espírito Santo in 2014 revealed a massive fraud involving falsified accounts and concealed debts. The fraud led to losses of approximately €4.9 billion ($6.7 billion) and had severe repercussions on Portugal's banking sector. These bank frauds serve as cautionary tales, highlighting the importance of robust risk management, regulatory oversight, and internal controls within the financial industry. The losses incurred from such frauds have led to increased scrutiny and stricter regulations to prevent similar incidents in the future.

Top 5 biggest bank frauds of all times

Banking April 11, 2023

Top 5 wealthiest banks in the world

Top 5 wealthiest banks in the world

Banking March 7, 2023

TrueLayer raises $70m to build the world’s most valuable open banking network

TrueLayer raises $70m to build the world’s most valuable open banking …

Banking February 18, 2023

Top 5 reasons why the Banking Industry grew at an unprecedented rate in last 5 years

Top 5 reasons why the Banking Industry grew at an unprecedented rate in last 5 years

Banking January 3, 2023

EU to create a cybersecurity certification framework

Operational resilience: respond, enhance, thrive

Banking February 24, 2021

Why Denmark’s “corona passport” is more of a promise than a plan

Why Denmark’s “corona passport” is more of a promise than a plan

Banking February 10, 2021

gbafNews28

Centro Expands Free Virtual Curriculum for Digital Advertising

Banking February 3, 2021

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Bosch Marks New Sustainability Era with ENERGY STAR® Certified Laundry…

Banking January 27, 2021

CaixaBank's imagin reaches three million users

CaixaBank’s imagin reaches three million users

Banking January 20, 2021

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Argo Blockchain Commences Trading on the OTCQB Venture Market in the U…

Banking January 13, 2021

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Energous and American Equus Announce World’s First Wirelessly Charged …

Banking January 6, 2021

New Year celebrations, New Year's Eve celebrations, New Year's Eve travelling, lesser known destinations in India, travelling, indian express news

Explained: Who is Dilip Chhabria and why did Mumbai police arrest him?

Banking December 30, 2020

How retailers can create a frictionless customer experience

Advanced acquiring and the opportunity for in-store and online retail

Banking December 23, 2020

EU to create a cybersecurity certification framework

At a glance: cryptoassets for investment and financing in Mexico

Banking December 16, 2020

gbafNews28

Easterly Government Properties to Participate in Jefferies 2020 Virtua…

Banking December 9, 2020

The Top 10 Career Coaches To Follow

ACAMS’ 11th Annual AML and Anti-Financial Crime Conference – Global In…

Banking December 2, 2020

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