Top Enforcement Actions 2023
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What follows are the five largest enforcement actions covered by Compliance Week this year, or companies that did not stay 'good' in 2023.
For inquiries regarding our membership options, please get in touch with Donna O'Neill or complete the form below. We will promptly be in contact with you.
What follows are the five largest enforcement actions covered by Compliance Week this year, or companies that did not stay 'good' in 2023.
For inquiries regarding our membership options, please get in touch with Donna O'Neill or complete the form below. We will promptly be in contact with you.
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Top Enforcement Actions covered by CW
Binance pleads guilty, fined $4.3B over widespread U.S. law violations
Federal agencies hit Binance with more than $4.3 billion in penalties and imposed multiple compliance monitorships on the virtual currency exchange as punishment for its repeated and intentional violations of U.S. anti-money laundering laws, sanctions, and other regulations.
UBS to pay $1.4B over financial crisis-era fraud
UBS and several of its U.S. affiliates agreed to pay $1.44 billion as part of a settlement with the Department of Justice regarding the underwriting and issuance of residential mortgage-backed securities in the lead up to the 2008 financial crisis.
Meta fined record $1.3B in GDPR data transfer ruling
The Irish Data Protection Commission announced a record penalty of €1.2 billion (U.S. $1.3 billion) against Meta regarding its transfers of user data from the European Union to the United States in violation of the General Data Protection Regulation.
British American Tobacco to pay $635M in North Korea sanctions case
British American Tobacco will pay more than $635 million to settle allegations the company violated U.S. sanctions against North Korea using a complex, yearslong scheme to import tobacco products into the country.
Precision Lens, owner ordered to pay $487M in false claims judgment
A judge affirmed more than $487 million in penalties and damages against Precision Lens and its owner after a jury found they filed tens of thousands of false claims to Medicare and violated the Anti-Kickback Statute.