All Europe articles – Page 43
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ArticleFRC sends letter to Big Four outlining ‘operational separation’
The U.K. Financial Reporting Council penned a letter to the Big Four outlining expectations for how the auditors should go about separating their audit work from their consultancy business.
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ArticleFictitious soccer players at center of money laundering scheme
Europol, the European Union’s law enforcement agency, announced it has uncovered more than €10 million (U.S. $11 million) from fictitious soccer player transfers in a money laundering and tax evasion scheme.
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ArticleProposed EU data strategy spells big changes for Big Tech
The European Commission unveiled its long-awaited plans about how it wants to regulate artificial intelligence as well as promote greater data sharing throughout the EU to stimulate further growth and competition in digital services.
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ArticleFRC to review how U.K. companies, auditors address climate change
The U.K. Financial Reporting Council announced it will begin reviewing the extent to which U.K. companies and auditors are responding to the impact of climate change to ensure reporting requirements are being met.
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ArticleCompliance lessons from Julius Baer’s ‘serious AML failings’
Compliance officers can learn a lot from the anti-money laundering compliance shortcomings at Julius Baer Group, as well as from what the bank is now doing to enhance its risk management and AML compliance controls.
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ArticleIreland GDPR caseload nearly doubled in 2019
The Irish Data Protection Commission received 7,215 complaints during the first full year the General Data Protection Regulation was in force, representing a 75 percent increase on 2018’s figures of just over 4,000.
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ArticleIreland raid over privacy concerns jilts Facebook Dating
Facebook wants to play Cupid in Europe, but the Irish Data Protection Commission got its arrow in the tech giant first.
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ArticleUnderstanding the why in CDD
Compliance practitioners might know how to undertake customer due diligence, but may never ask themselves why and might have limited knowledge of other anti-money laundering areas.
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Article
Google begins argument to try to overturn $9B in EU fines
Attorneys for Google, seeking to overturn $9 billion in EU antitrust fines, argued in a European court Wednesday that the tech giant should not be forced to prop up its competitors in the course of promoting facets of its own business.
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Airbus contractors feeling ripple effect from record fine
Airbus is free to go about its business after paying a record fine to three anti-corruption agencies for widespread bribery, but the trouble is only beginning for some of its implicated contractors.
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ArticleExperts weigh in on Brexit consequences for GDPR, AML, more
The wheels to the United Kingdom’s exit from the European Union are finally in motion, but the hard work still remains as to what kind of future trading relationship the country has with the single market.
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Ireland probing Google, Tinder for GDPR violations
Ireland’s data regulator has announced new investigations into Google and MTCH Technology Services—the company behind dating app Tinder—over complaints users’ personal data is being misused in violation of the GDPR.
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ArticleAirAsia on defense after Airbus-related bribery allegations
AirAsia is doing damage control after executives at the budget airline were referenced as recipients of a $50 million bribe from plane maker Airbus in the latter’s $4 billion global bribery settlement.
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ArticleGermany’s dual approach to data regulation under the GDPR
Germany is staying ahead of the game with an advanced crackdown on data privacy and competition law violations.
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ArticleAvast dissolves analytics arm following privacy scandal
Avast maintains it always acted “fully within legal bounds,” but the British cyber-security company terminated the provision of data to its analytics arm, Jumpshot, after being accused of putting users’ privacy at risk.
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ArticleAirbus resolves global bribery scandal for record $4B
Airbus has agreed to pay a total of $4 billion in penalties split between the United States, United Kingdom, and France—the world’s largest global resolution for bribery.
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ArticleNBCUniversal fined $15.9M for EEA sales restrictions
NBCUniversal has been fined €14.3 million (U.S. $15.9 million) by the European Commission for restricting traders from selling licensed merchandise within the European Economic Area to territories and customers beyond those allocated to them, marking the latest case in a wider enforcement trend.
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ArticleEurope’s high court strikes blow to drug companies in ‘pay-for-delay’ case
The U.K. Competition and Markets Authority won a victory in a decision by Europe’s high court, ruling GlaxosmithKline’s entering of a financial deal with industry rivals to delay the generic version of its drugs violates EU competition law.
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Airbus announces resolution of global corruption case
Airbus confirmed it has reached a deal with authorities in the United States, the United Kingdom, and France to resolve long-running allegations of bribery and corruption. The settlement could reportedly be worth billions.
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ArticleTI reveals political power correlation to corruption
Lack of campaign finance transparency and increased perceptions of political power among the wealthy are factors that correlate with a high risk of corruption according to Transparency International’s 2019 Corruption Perceptions Index.