All Europe articles – Page 26
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Article‘Soft-hearted’ Irish DPC proposes $42M GDPR fine against Facebook
The Irish Data Protection Commission has set out plans to fine Facebook between €28 million and €36 million (U.S. $32 million and $42 million) for violations of the General Data Protection Regulation.
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ArticleLate surge expected to comply with EU Whistleblowing Directive
European companies are expected to rush to comply with new whistleblower protection rules only when they take effect in December, meaning workers are not adequately protected for any disclosures they make in the meantime.
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ArticleMetals Technology Initiative issues new anti-corruption resources
The Metals Technology Initiative has launched a new website making its guidance on gifts and hospitality and third-party due diligence freely accessible.
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ArticlePandora Papers: Takeaways for compliance
The “Pandora Papers” could open Pandora’s box for all businesses and organizations found to be entangled in its worldwide web of shell companies, offshore tax havens, and secret trusts.
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ArticleSEC charges ex-Goldman compliance analyst with insider trading
The Securities and Exchange Commission charged a former senior compliance analyst at Goldman Sachs who abused his position of authority unbeknownst to the investment bank with insider trading.
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ArticleGermany’s N26 fined $5M for AML lapses
Mobile bank N26 revealed it paid a €4.25 million (U.S. $5 million) fine ordered by Germany’s market regulator regarding deficiencies in its reporting of suspicious activities “in the area of anti-money laundering.”
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ArticleCMA’s Green Claims Code latest effort in greenwashing crackdown
Companies have until the end of the year to stop making misleading claims about the green credentials of their products and services or face regulatory action, the U.K. Competition and Markets Authority has warned.
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ArticleSwedbank CCO lauded for role in AML rebound to retire
Ingrid Harbo, Swedbank’s chief compliance officer during its ongoing recovery from a massive AML scandal, announced she will retire in March 2022.
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ArticleReport: China, U.S. most confident in combating corruption risks
Risk leaders at companies in China and the United States expressed the highest level of confidence in their approach to mitigating bribery and corruption risk, according to a new global benchmark report from Kroll.
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ArticleNord Stream 2 a study in sanctions complexity
The construction of Nord Stream 2 and the accompanying geopolitics at play illustrate how difficult it can be for compliance to respond to evolving sanctions risks.
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ArticleWhatsApp GDPR fine fallout: EDPB actions shift enforcement landscape
Experts weigh in on the Irish Data Protection Commission’s €225 million (U.S. $267 million) GDPR fine against WhatsApp, which saw the European Data Protection Board rule to increase the fine total and compliance obligations.
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ArticleGerman AML deficiencies in spotlight ahead of election
A recent raid by German prosecutors of the country’s finance and justice ministries has once again put a spotlight on Germany’s apparent failings in tackling financial crime.
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ArticleCredit Suisse appoints Rafael Lopez Lorenzo as chief compliance officer
Credit Suisse has named Rafael Lopez Lorenzo as its chief compliance officer, five months removed from his predecessor stepping down in the wake of massive losses caused by the collapses of Archegos Capital Management and Greensill Capital.
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ArticleIreland shakes up GDPR enforcement with $267M fine against WhatsApp
Ireland’s Data Protection Commission announced a record-breaking €225 million (U.S. $267 million) fine against WhatsApp that is equally significant for the compliance lessons it imparts and inconsistency of the GDPR it exposes.
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ArticleHamburg DPA warns Zoom incompatible with GDPR
The Hamburg data protection authority has warned local government departments to stop using Zoom because it believes the videoconferencing app is not compliant with the General Data Protection Regulation.
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ArticleGDPR fines worth appealing? Factors to consider
Experts weigh in on the results of a report from the European Data Protection Board showing which countries have seen the most GDPR fines annulled or modified following court appeal.
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ArticleRebuilding Credit Suisse nominates risk management veterans to board
In a continuing overhaul of its risk and compliance leadership, Credit Suisse announced the nominations of Axel Lehmann and Juan Colombas to serve as non-executive members of its board.
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ArticleResource demand to enforce GDPR weighing heavy on EU authorities
A new report from the European Data Protection Board has found an overwhelming majority of data protection authorities believe they are under-resourced to deal with the demands of the General Data Protection Regulation.
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ArticleEmployee monitoring proving hot target for GDPR enforcement
Recent fines in Italy against two food delivery companies for violating the privacy of their drivers should act as a warning that employee surveillance can prove to be a major breach of the General Data Protection Regulation.
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ArticleEU guidance seeks to clarify role of AML/CFT compliance officers
The European Banking Authority is seeking comment on new draft guidelines that set clear expectations regarding the appointment, role, tasks, and responsibilities of anti-money laundering and countering the financing of terrorism compliance officers.