Zip Shares Slide 50% After Flagging Costs Tied to US Fraud Event
Shares of Australian payments firm Zip Co. roughly halved after the company flagged A$10.1 million ($7.1 million) in expenses related to an external fraud event in the US.
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Shares of Australian payments firm Zip Co. roughly halved after the company flagged A$10.1 million ($7.1 million) in expenses related to an external fraud event in the US.
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Tokyo, Oct. 9 (Jiji Press)--Japan's Financial Services Agency on Friday ordered Prudential Life Insurance Co. and Gibraltar Life Insurance Co., both part of the U.S. Prudential Financial Inc. group, to suspend some operations for more than three months over fraud committed by their employees. The FSA also issued a business improvement order to Prudential Holdings of Japan Inc., the parent c...
Tokyo, Oct. 8 (Jiji Press)--A corporate culture that placed excessive emphasis on sales performance was cited as a cause of fraud by employees of Prudential Life Insurance Co. who defrauded customers of money, a third-party investigation report showed Thursday. The report said that it was difficult for officials in managerial posts to oversee high-performing sales employees as the corporate ...