The Rise and Fall of the 1MDB Mastermind

The Rise and Fall of the 1MDB Mastermind

Published in September of 2018, Tom Wright and Bradley Hope’s Billion Dollar Whale: The Man who Fooled Wall Street, Hollywood, and the World is a detailed depiction of one of the largest, most sprawling financial fraud schemes of the 21st century. Wright and Hope, two long-time Wall Street Journal reporters, take the reader through the almost unbelievable tale of Jho Low’s rise to conspicuous wealth and international stardom. As Wright and Hope outline in their author’s note, they hoped not only to explain Low’s methods and motives but also to present a “larger portrait, about capitalism and inequality, told through the life of Low.” By exposing the links between big banks, kleptocracy, and corruption within Hollywood and Wall Street, Wright and Hope elucidate the structural concerns that enabled Low’s scheme while crafting a gripping narrative of infuriating oversights and ostentatious decadence.

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City of New York Seeks $20 Million for Airbnb Fraud Scheme

City of New York Seeks $20 Million for Airbnb Fraud Scheme

Airbnb currently has around 50,000 listings within New York City, making the tourism capital its largest market in the U.S. As Airbnb has experienced a steady climb in short-term rentals within NYC, the municipal and state governments have grown more keen on curbing Airbnb’s permissions for local rentals to keep more living spaces available for New York City residents, who already face a tight rental market. According to the New York State Multiple Dwelling Law, buildings with three or more units cannot offer rentals for fewer than 30 days at a time unless the owner or tenant of the unit is present while the guest is renting.

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How to Manage Reputational Risk

How to Manage Reputational Risk

As Warren Buffett once said, “It takes 20 years to build a reputation and five minutes to ruin it.” Reputation equals integrity and integrity equals social responsibility. By sustaining the “social license to operate” through social responsibility, organizations ensure that business practices, operating procedures and corporate behaviors are acceptable to employees, stakeholders and the public.

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Roadblocks in Exercising Professional Skepticism

Roadblocks in Exercising Professional Skepticism

As an anti-fraud professional, may consider yourself a natural born skeptic. Your job requires questioning all that is presented to you. While others may prefer to take things at face value, you are trained to dig deeper and ferret out important information. But if that doubting nature should be common sense in the course of an investigation, why is professional skepticism included as a requirement in auditing standards?

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How to Make Regulatory Change Actions Work For Your Company

How to Make Regulatory Change Actions Work For Your Company

The volume, velocity and range of regulatory change actions today are overwhelming. By having a regulatory change management system to track and monitor regulatory change activity, you can provide your executives and regulators with more visibility and a clear outline of what you are doing to minimize compliance risk.

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