Here are a few recent articles highlighting some interesting issues that impact the world of risk and insurance. Topics include the impact of the Paris attack on the stock market, the emergence of the world’s largest hotelier, a former Department of Defense director of operations charged with taking bribes, criminal charges in a huge cyberfraud ring and four business owners charged with workers compensation fraud.
Wall St. Rises as Little Impact Seen From Paris Attacks
Reuters: U.S. stocks were higher in early afternoon trading on Monday after a choppy start as investors absorbed the impact of Friday’s deadly attacks in Paris.
Marriott Becomes World’s Largest Hotelier, Buying Starwood
Associated Press: Hotel behemoth Marriott International is becoming even larger, taking over rival chain Starwood in a $12.2 billion deal that will catapult it to become the world’s largest hotelier by a wide margin.
Former DoD Contractor Pleads Guilty to Taking Bribes from UK Company
FCPA Blog: The former director of operations of a Department of Defense contractor in Washington, D.C. pleaded guilty to soliciting and receiving nearly $200,000 in kickbacks in return for steering U.S. government subcontracts to a U.K. company.
U.S. Charges Three in Huge Cyberfraud Targeting JPMorgan, Others
Reuters: U.S. prosecutors on Tuesday unveiled criminal charges against three men accused of running a sprawling computer hacking and fraud scheme that included a huge attack against JPMorgan Chase & Co and generated hundreds of millions of dollars of illegal profit.
4 New York Business Owners Charged in Workers’ Comp Fraud Sweep
Insurance Journal: The New York inspector general’s office announced the arrests of four New York state business owners on fraud and theft charges as part of an ongoing series of investigations into employers and employees who defraud the state workers’ compensation system.