Word: antifraud
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...fails to approve a new drug - the law is substantially less black and white. In 1934 Congress passed the Securities Exchange Act but didn't specifically address the topic of insider trading; it was only in the 1960s that the SEC began to bring cases under the law's antifraud statutes. Toward the end of that decade, courts codified the SEC's actions in case law, locking down the idea that everyone in the marketplace should get roughly equal access to information. (See the best and worst sports executives...
...accounting firms? Sarbanes-Oxley, the 2002 antifraud law, gave them a windfall by putting them in the business of reviewing financial-reporting policies. With the Big Four now making record profits, their story reads more like the rich get richer than true-crime drama...
...window, and inside was a bank of desktop computers, stacks of CDs, some offset printers in the back. The proprietors turned out a creditable line of calendars, brochures and color advertisements, and developed a reputation for attention to detail. But, they allegedly had a sideline business. According to Bulgarian antifraud investigators, the unassuming shop was the source of one of the finest counterfeit €200 notes now in circulation...
...fact, police throughout the euro zone are reporting a sharp rise in cases of people caught trying to pass counterfeit bills. Austrian antifraud investigators who rarely laid eyes on a fake schilling before the changeover reported 3,000 cases of counterfeit euros last year. This year, they've seen 15,000, mostly originating in Bulgaria, says Erich Zwettler, an anticounterfeiting investigator in Vienna. Next door in the German state of Bavaria, police also report an increase in forgeries from Lithuania, Italy and Turkey (mainly coins). Some 7,500 cases are awaiting trial in Bavaria alone. Police say that the most...
BUYER, BEWARE You like to shop online, but is your billing information vulnerable to hackers? Credit-card issuers, who often absorb the expense of fraudulent purchases, are working on a remedy. American Express and Visa are joining other Web businesses in offering antifraud strategies for online shopping, including everything from assigning shoppers aliases to offering temporary credit-card numbers for one-time use only...