Fraud

The $81 million cybertheft and a new, apparently related attack highlight the vulnerability of connected IT systems to determined hackers.

Auto lending is a much smaller market than mortgages, but it mirrors many of their problems, particularly in subprime. Beware a recession.

Bank’s currency business continues to thrive in wake of $714 million settlement, with trading revenue up 68 percent in the first quarter.

While the Feds go after yet another participant in the ring led by Raj Rajaratnam, critics wonder why there’s been so much less attention on mortgage securities fraud.

Two recent investigations into hedge funds – A.R. Capital and Opulent Lite – show that the U.S. government is not only interested in the big names that are bending or breaking the rules; it is also prepared to hunt down any smaller funds that it believes are engaged in fraudulent activity.

The SEC has, since October, brought at least five cases against hedge funds, which is part of a its plan to “step up its efforts in the hedge fund space.”

The case against Stephen M. Hicks’s Southridge Capital Management LLC and Southridge Advisors LLC is one more in the SEC’s campaign against rule-breaking hedge-fund managers.

When the SEC promised to step up its scrutiny of hedge funds last year, it was not bluffing. The latest case involves alleged fraud in valuing “side pockets.”

In Goldman’s alleged fraud case there was a money manager in the mix: ACA Management LLC.

Josh Ellis uses forensic accounting skills to track down bad guys.