The word 'frauds' is correct and usable in written English.
It can be used as a noun to refer to people who engage in fraudulent activity. For example, "The police apprehended several frauds that had been operating a sophisticated credit card scam."
PD After Rui Costa, Luis Figo, Pauleta & co were outed as frauds, Cristiano Ronaldo, Nani, João Moutinho & co have been identified as Portugal's real golden generation, but they too are at risk of being exposed as gilded tin.
Sir John says no further large-scale frauds have been reported involving other government departments.
A spokesman for Revenue and Customs said: "These frauds are subject to a series of different investigations which will potentially lead to prosecutions.
From this $10m, Warner is alleged to have agreed to pay $1m to Blazer – who, according to the US Department of Justice, has pleaded guilty to this and a series of other financial frauds and crimes.
The recent spate of frauds in China, where auditing practices are far laxer, shows that markets are right to assign a premium to companies that receive a Western accountant's approval.Those conflicts of interestEven so, the misaligned incentives built into auditing all but guarantee that accountants will fall short of investors' needs.
However jurors proved hard to convince that underlings had perpetrated huge frauds unnoticed, right under the nose of the chief executive.
As it turns out there never was much gold, if any: the only superlative likely to adhere to the patch of Borneo in which a small Canadian firm, Bre-X, claimed to have discovered one of the world's biggest-ever gold deposits is that it occasioned one of the world's biggest-ever frauds.
The most spectacular failure was Kenneth Lay, who returned as CEO of Enron in 2001 when Jeffrey Skilling's frauds came to light and who saw the company crumble in his hands.
They found that, pre-SOX, only one-third of big corporate frauds were uncovered by those with a responsibility to find them, such as auditors, industry regulators or the SEC.
Matthew Moro, the office's deputy chief, says it receives about 300 referrals a day, but has not so far come across anything that would need new regulation, just the "same old frauds in a new guise": attempts to raise money for bogus companies, for example, or schemes known variously as "scalping", "pumping and dumping" or "ramping".
But all frauds involve abusing people's trust and diverting corporate resources for personal ends.
