Reuters reported that French mining company Eramet has identified a potential 45 million euro financial fraud within its group treasury operations. Eramet said “Eramet will file a criminal complaint with the authorities and has taken immediate disciplinary measures against the identified staff. The group will also take all possible measures to reduce the impact of this fraud on its accounts. The estimated impact, which is before insurance or legal action, will be accounted for in 2021 operating profit.”The company was looking at how it could strengthen internal control procedures and its board of directors is monitoring the situationEramet's activities are concentrated in mining and processing nickel and manganese
Reuters reported that French mining company Eramet has identified a potential 45 million euro financial fraud within its group treasury operations. Eramet said “Eramet will file a criminal complaint with the authorities and has taken immediate disciplinary measures against the identified staff. The group will also take all possible measures to reduce the impact of this fraud on its accounts. The estimated impact, which is before insurance or legal action, will be accounted for in 2021 operating profit.”The company was looking at how it could strengthen internal control procedures and its board of directors is monitoring the situationEramet's activities are concentrated in mining and processing nickel and manganese
