Monday, July 6, 2009

SEC wants to do a better job of looking for fraud

According to the Times Call of Colorado, the SEC had received a tip to instigate Madoff a few years before his ponzi scheme failed. Now, they're trying to find better ways to detect fraud in advance. The article looks at several things they are doing to monitor and detect fraud better.

- The SEC is trying to improve the handling of tips and complaints that they receive
- Improve the examiners abilities to detect fraud and their knowledge of complex financial productions
- Making sure that a third party can verify all assets

What are other things the SEC can do to improve it's detection of fraud?

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