Fraud


FRAUD

The Treasury Department issues its 2001 National Money Laundering Strategy. As in the past, the plan warns of the negative roles lawyers, bankers and accountants can intentionally or unintentionally play in abetting criminal efforts to disguise unlawful income. But this year’s strategy also focuses on training lawyers and accountants to recognize and report potential signs of money laundering. Further, the plan calls for them to help law enforcement agencies and the financial industry better fight money laundering by making optimal use of information financial institutions are required to report to regulators. ( www.treas.gov/press/releases/docs/ml2001.pdf )

NEWS

IRS sets start date for tax season

The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.