17 Jul 2014 | Exposed through audit, Financial loss, Incomplete records, Operational Failures, Systemic failure
Shoddy record-keeping and weak management inside the Boston Redevelopment Authority have cost Boston’s powerful development agency millions of dollars in unpaid fees and lease payments, an outside audit of the agency has found. The audit, commissioned by Mayor Marty...8 May 2014 | Breakdowns in Accountability, Financial loss, Inaccurate records, Incomplete records, Non-compliance
Larger fund managers with ‘fragmented’ manual record-keeping processes risk fines from a more inquisitive regulator, according to a compliance specialist. The warning follows last week’s shock reprimand for asset management giant Invesco Perpetual. ...1 Jan 2014 | Financial loss, Inaccurate records, Inadequate Systems, Incomplete records, Non-compliance, Untimely recordkeeping
Much of the Social Security Administration’s information on who’s dead and who isn’t is “inaccurate, incomplete or untimely” and could “lead to improper payments,” according to a government audit. The report by the Government Accountability Office found numerous...17 May 2013 | Financial loss, Inappropriate Disposal or Destruction, Incomplete records
Alleged missing or disorganized records at the Athens County Engineer’s Office have led to a sheriff’s investigation into possible destruction of records and questions about how much the department will be reimbursed for nearly $350,000 in Federal...27 Mar 2013 | Breakdowns in Accountability, Financial loss, Non-compliance
Could careless record keeping cost Missouri taxpayers millions of dollars? It’s a possibility as the feds try to recoup millions in questionable welfare payouts. Missouri State Auditor Tom Schweich latest Single State Audit reveals some startling numbers. “Right...3 Feb 2012 | Financial loss, Inadequate Systems, Non-compliance, Systemic failure
Opening a new front against the American banking industry, New York sued three of the nation’s biggest mortgage servicers over their use of an electronic database that, according to the Empire State, has resulted in widespread deception and fraudulent...2 Dec 2011 | Financial loss, Inadequate Systems, Incomplete records, Non-compliance, Systemic failure
Massachusetts sued the five biggest mortgage companies in the US on Thursday, accusing them of “corrupting” the state’s land records through pervasive use of fraudulent documentation in seizing borrowers’ homes. Martha Coakley, Massachusetts attorney-general, alleged...1 May 2011 | Data Protection & Privacy Breaches, Financial loss
The ultimate fee for the data breach last month at email service provider Epsilon could reach as high as $4 billion, depending on what becomes of the data that was stolen, according to a cyber-risk advisory firm. ComputerWorld, May 1, 201126 Mar 2011 | Breakdowns in Accountability, Financial loss, Inadequate Systems, Incomplete records
In its report on Defence Estates Management, the government auditor (Comptroller and Auditor General) asked the Defence Ministry to take “strict disciplinary action” against officers “who turn a blind eye to the illegal use of defence land for years...4 Feb 2011 | Breakdowns in Accountability, Exposed through audit, Financial loss, Inadequate Systems, Systemic failure
The Pentagon paid hundreds of billions of dollars to defense contractors engaged in criminal or civil fraud — in some cases paying the companies after they were convicted, according to a new Defense Department report. The Pentagon said its own sloppy...
