Wells Fargo Bank, N.A. Accused of Control Fraud through Stumpf and Other Corporate Insiders
By Daniel Edstrom
DTC Systems, Inc.
October 19, 2016
The purpose of Sarbanes-Oxley legislation is to put in place financial controls in order to not only reduce fraud, but to identify risks so that the controls can be expanded or new controls put in place. Large companies such as Wells Fargo Bank have compliance departments and ethics lines where questionable conduct (unlawful or not) can be reported “safely” in order for the company to take action to stop and/or remediate the questionable conduct. This is done so that a business operates safely and soundly, and is the perfect source for implementing new controls, enhancing existing controls, testing the effectiveness of the controls, or at least disclosing material deficiencies that can be identified and corrected at a later date. Continue reading “Wells Fargo Bank, N.A. Accused of Control Fraud through Stumpf and Other Corporate Insiders”