Fraud had a marquee year in 2023. Hard to believe, but just in the last 12 months fraudulent activity was exposed at the world’s largest crypto exchanges, the Elizabeth Holmes saga ended at a federal prison camp, cyberattacks continued to grow, and federal investigators uncovered at least $100 billion in Covid-era relief fraud.

And that’s just the tip of the iceberg. It can be hard remembering all the cons, scams, and scandals of the last year, so CFO Brew has gathered some of the biggest fraud stories of 2023 below.

Crypto is king. We’ve got to start the list with crypto. The year in fraud started with a bang as the late 2022 collapse of crypto exchange FTX continued to unspool and billions in customer money disappeared. Prosecutors hit FTX founder Sam Bankman-Fried (SBF) with a superseding indictment in February, adding multiple fraud charges to his earlier indictment. At his October trial, Caroline Ellison, his former girlfriend, Gary Wang, FTX’s co-founder, and Nishad Singh, FTX’s director of engineering, who all pled guilty to fraud, testified that Bankman-Fried had personally directed the misappropriation of customer funds, in a scam a prosecutor called “one of the biggest financial frauds in American history.” SBF was found guilty on seven counts of fraud and conspiracy in November and is awaiting sentencing.

Click here to read about the year’s biggest fraud stories.—DA

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2024 is here, and with it, prediction after prediction about what the new year will bring. It’s the time of year when we like to turn to the experts.

Last year, CFO Brew talked with McKinsey partner Ankur Agrawal, who researches how the CFO role has evolved over time. Given the seismic changes in the role in 2022 and into 2023, it felt particularly apt back then.

We found it so instructive, and our lovely readers were so into it, that we decided to do it again. Hey, some things stay the same.

This interview has been edited for length and clarity.

How will the CFO role change in 2024?

There are a few things which will certainly become more important for the CFO role. First, just awareness of geopolitical uncertainty. The world is uncertain. There’s, of course, capital market uncertainty. There’s talent uncertainty. If there weren’t enough balls for the CFO to juggle, there are already more balls.

For more insight on the CFO in 2024, click here.—NP

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