Sarbanes-Oxley

U.S. President's Corporate Fraud Task Force put out a Fact Sheet: President’s Corporate Fraud Task Force Marks Five Years of Ensuring Corporate Integrity that states 1,236 total corporate fraud convictions to date, including:

• 214 chief executive officers and presidents;
  
• 53 chief financial officers;
  
• 23 corporate counsels or attorneys; and
  
• 129 vice presidents
  

More than 50 defendants have been charged under new securities-fraud provisions of Sarbanes-Oxley (SOX).
These corporate fraud charges brought over the five years have included

• securities fraud,
  
• insider trading,
  
• market manipulation,
  
• obstruction of justice,
  
• false statements,
  
• stock option backdating,
  
• conspiracy,
  
• money laundering,
  
• wire fraud, and
  
• violations of the Foreign Corrupt Practices Act [which required Internal Controls]
  

Implementing SOX 404 / 302 internal controls creates transparency between top, middle, and lower management levels and across organizational units. SOX whistle-blower provision allows knowledgable employees to safely challenge financial reporting misinformation within the corporation.  When allegations are not addressed, these employees can alert the SEC to investigate. SEC passes corporate fraud specifics to the Department of Justice to investigate and prosecute.