- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
A new multinational centre to coordinate law enforcement action against grand corruption was launched this month. The International Anti-Corruption Coordination Centre (IACCC), hosted by the U.K.’s National Crime Agency, brings together specialist law enforcement officers from multiple jurisdictions into a single location to tackle allegations of grand corruption.
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Corruption may be seen as being “endemic” in some regions, but that cuts no ice with prosecutors in the United Kingdom. To them, a bribe is still a bribe.
Legal cases and fines for noncompliance with EU’s GDPR could rise sharply after a court found that a breach was a source of unfair competition. The judgment also opens doors to civil cases over companies that ignoring expensive or challenging rules, such as those regarding AML/CFT.
Portuguese bank Novo Banco, S.A., fired Chief Risk Officer Carlos Jorge Ferreira Brandão “with just cause” after an internal probe discovered “suspicious financial transactions” in his sphere.
