Business Partner Fraud, Fictitious Transactions and Credit Risk
First written in FY2016. 5 of 6 entries say "Restated". Latest entry: FY2024.
No other company in this theme has enough history to compare yet.
- FY2024RestatedAnnual report
「Our group is strengthening its procedures by conducting thorough analyses of customers' creditworthiness and actual circumstances before commencing transactions, enhancing our credit screening framework and taking other measures. We also ensure that sufficient analyses are conducted after transactions begin regarding the location, nature and magnitude of risks inherent in the transactions.」
We continue to conduct customer analysis, credit screening, post-transaction risk analysis and internal control evaluations. - FY2021RestatedAnnual report
「Nevertheless, if we are unable to prevent customer fraud and other misconduct, concerns over creditworthiness and unexpected bad debt risks may materialize, potentially adversely affecting our group's business activities, financial condition and operating results.」
While conducting customer analysis, credit screening and internal control evaluations, credit concerns and bad debt risks arising from customer fraud remain ongoing. - FY2020RestatedAnnual report
「Our group is strengthening its procedures by conducting thorough analyses of customers' creditworthiness and actual circumstances before commencing transactions, enhancing our credit screening framework and taking other measures. We also ensure that sufficient analyses are conducted after transactions begin regarding the location, nature and magnitude of risks inherent in the transactions.」
We continue to conduct customer analysis, credit screening, post-transaction risk analysis and internal control evaluations. - FY2019RestatedAnnual report
「Nevertheless, if we are unable to prevent customer fraud and other misconduct, concerns over creditworthiness and unexpected bad debt risks may materialize, potentially adversely affecting the business, financial condition and operating results of our group.」
While conducting customer analysis, credit screening and internal control evaluations, credit concerns and bad debt risks arising from customer fraud remain ongoing. - FY2017RestatedAnnual report
「We are strengthening our procedures by conducting thorough analyses of customers' creditworthiness and actual circumstances before commencing transactions, enhancing our credit screening framework and taking other measures. We also ensure that sufficient analyses are conducted after transactions begin regarding the location, nature and magnitude of risks inherent in the transactions.」
In light of past customer fraud and fictitious transactions, we continue to conduct customer analysis, credit screening, post-transaction risk analysis and internal control evaluations. - FY2016MaterialisedAnnual report
「Following the discovery of fraudulent activities, including fictitious transactions by a customer in the used gaming machine sales business, we restated prior-year financial statements in June 2014.」
Describes a past incident in which fictitious transactions and other misconduct by a customer were discovered, leading to the restatement of prior-year financial statements. Measures include credit analysis, credit screening and evaluation of customers' internal controls before commencing transactions.