According to the ACFCS News, federal prosecutors have charged a Chinese company, the world’s largest telecommunications equipment maker, a top official and two affiliates with fraud, money laundering, pilfering trade secrets, obstruction of justice and sanctions violations for hiding its dealings with Iran from partner banks.
1. How did these hidden dealings come to light?
2. How long has the fraud been going on and how does this compare to the length of the average fraud as show in the 2018 ACFE Report to the Nation?
3. What is “Tappy” and how does it relate to this fraud?
4. Who is Meng and where was she arrested? Where does she face charges?
Monroe, B. (2019). DOJ Charges Chinese Telecom HUAWEI With Fraud, Sanctions, Money Laundering, Stealing Trade Secrets. ACFCS News, January 31 (Retrievable online at https://www.acfcs.org/news/436433/DOJ-charges-Chinese-telecom-Huawei-with-fraud-sanctions-money-laundering-stealing-trade-secrets-.htm)