Forensic Accounting

Forensic accounting has been around for decades, but only in the last 10 years have people become aware of the profession on a wide scale. In this article, originally appearing in the Wisconsin Law Journal, IAAR expert speaker Tracy L. Coenen gives her best practices to tracing frauds. Download now...

At least one lawmaker seems to want the Securities and Exchange Commission to become irrelevant. The regulator has had its problems. But a Republican bid to reshape it seems meant to hinder, not help. There’s room for improvement, but with its duties growing, the watchdog needs more staff, more money and a buffer against Congress. The New York Times, Thursday, August 4, 2011

A Manhattan federal judge has frozen the assets of three Swiss asset managers accused of illegally profiting from trades made ahead of the $1.2 billion sale of Arch Chemicals to the Lonza Group, the Securities and Exchange Commission announced on Monday. The S.E.C.

What does a declassified British security service's report have to do with the South African government's utter lack of political will to pursue corruption proceeds? Many onlookers are saying it is indicative of an endemic problem experienced by those who try to recover assets on behalf of the country. Meanwhile, billions of dollars in potential restitution hang in the balance.

Investigating corruption? Get ready to be investigated yourself.

HSBC asked a judge to dismiss a $9 billion lawsuit by the trustee liquidating Bernard Madoff’s firm, saying he isn’t allowed by law to bring such cases on behalf of the confidence man’s former customers. Irving Picard, the trustee, sued HSBC and a dozen so-called feeder funds for $9 billion in December, accusing them of aiding Madoff’s fraud. Bloomberg, Friday, June 24, 2011

The United States announced Thursday that it would try to release some of the more than $30 billion in assets seized from Libya’s leader, Col. Muammar el-Qaddafi, to help Libyans in rebel-controlled areas, as dozens of officials met here to bolster a NATO-led military intervention that to critics appears stalled. New York Times, Thursday, May 5, 2011

Sharon Cohen Levin has been chief of the Asset Forfeiture^* Unit in the Southern District of New York for 15 years, but now, more than ever, her office's unit is under pressure to show results. She has seen forfeiture go from "something that was used occasionally" to a regular part of fraud prosecution.

Her office has responded with record recoveries. Asset Recovery^* Watch Editor David Quinones caught up with Cohen Levin to discuss the successes and challenges to disarming criminal enterprises and fraudsters.