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President-elect Trump’s Commerce Department pick Howard Lutnick to head tariff, trade agenda

2024-11-20T16:51:00+00:00By

President-elect Donald Trump announced he plans to appoint Cantor Fitzgerald President and CEO Howard Lutnick to lead the U.S. Commerce Department, as the incoming administration is expected to charge import tariffs against friends and foes.

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Experts explain why red flags can often be ignored due to ‘underlying systematic issues’

2024-11-19T17:28:00+00:00By

Companies spend huge sums on audit, risk management, and compliance to alert them about potential legal issues before they escalate into serious corporate governance failings. There’s only one problem, however–they often misread their own early warning signs or ignore them altogether.

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Nov. 21 | The DOJ’s Corporate Whistleblower Program: What we’ve learned and how it can change in the future

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More from Compliance Week

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How compliance monitoring can create a stronger foundation for AI, emerging technologies

2024-11-15T13:00:00+00:00By Yasmine Abdillahi, CW guest columnist

The era of artificial intelligence adoption is testing the old ways of doing compliance, underscoring the need for continuous monitoring. Compliance isn’t a one-and-done activity, but sometimes organizational incentives and goals fail to prioritize the importance of this.

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European Commission accuses Meta of anticompetive practices, issues $841M fine

2024-11-14T21:07:00+00:00By

Meta, the parent company of Facebook, has been fined nearly 798 million euros (U.S. $841 million) by the European Commission to resolve the agency’s long-running investigation into alleged “abusive practices” by Facebook Marketplace.

FinCEN

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FinCEN alerts financial institutions to be wary of AI-enabled deepfakes

2024-11-14T20:36:00+00:00By

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network issued an alert to financial institutions about their obligations to report deepfakes, warning artificial intelligence has given bad actors additional tools in their arsenal.

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EU Deforestation Directive delayed, experts advise compliance managers to not rest on laurels

2024-11-14T15:50:00+00:00By

If your business uses leather, rubber, wood, beef, palm oil, soy, or paper, then you may need to comply with the EU Deforestation Directive, a new rule intended to ensure that no goods traded in the EU contribute to global deforestation.

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CFTC cites ‘unreasonably delayed reporting’ for unevenly split $4M whistleblower award

2024-11-13T20:23:00+00:00By

“Unreasonably delayed reporting” cost one of two claimants whom will unevenly split a $4 million whistleblower award from the Commodity Futures Trading Commission for providing information that led to a successful enforcement action.

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DOJ orders Paragon Systems, subsidiary to pay $54M over front company contracts scheme

2024-11-13T18:21:00+00:00By

Paragon Systems, a Virginia-based security contractor, and a subsidiary will pay nearly $54 million to resolve allegations that its corporate executives–including its compliance manager–conspired to win Department of Homeland Security contracts by creating fraudulent small business front companies.

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FCA slaps Metro Bank with $21M fine for inadequate AML monitoring

2024-11-12T20:55:00+00:00By

The U.K. Financial Conduct Authority has fined Metro Bank 16.6 million pounds (U.S. $21 million) for an alleged failure by its automated system to adequately monitor money laundering risks.

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