All articles by Kyle Brasseur – Page 5
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News BriefNew European AML agency to be based in Germany
The European Union’s recently approved Anti-Money Laundering Authority will be based in Frankfurt, Germany, and begin operations in 2025.
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News BriefWalmart shares successes behind supplier emissions reduction initiative
Retail giant Walmart announced the completion of an initiative to reduce emissions in its supply chain six years earlier than its intended target.
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News BriefCFPB exercises power to supervise installment lender World Acceptance
Installment lender World Acceptance Corp. was the subject of the Consumer Financial Protection Bureau’s first use of a dormant legal provision allowing it to establish supervisory authority over more nonbank financial companies.
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News BriefFATF adds Kenya, Namibia to AML/CFT watchlist; UAE, Uganda removed
Kenya was one of two African countries included in the Financial Action Task Force’s latest update to its list of jurisdictions under increased monitoring for money laundering and terrorist financing, while the United Arab Emirates was among four countries removed.
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PremiumDOJ official: Expect more cybersecurity false claim enforcements
The announcement of a record year in several areas of False Claims Act enforcement at the Department of Justice was accompanied by a warning that more significant cases are coming, particularly regarding cybersecurity-related claims.
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News BriefLloyds discloses FCA probe into AML controls
Lloyds is the latest U.K. financial institution being probed by the Financial Conduct Authority regarding its anti-money laundering control framework.
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News BriefDOJ appoints first chief AI officer
On the heels of a warning by the deputy attorney general that the agency will seek stiffer penalties in cases involving the misuse of artificial intelligence, the Department of Justice announced Jonathan Mayer as its first chief AI officer.
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OpinionTen things I’m excited for at CW National 2024
A new month and a new venue but a lot of the same you love about Compliance Week’s National Conference. CW Editor in Chief Kyle Brasseur shares what he’s looking forward to most at the 2024 edition of the annual event.
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News BriefDoorDash fined $375K in second public CCPA enforcement
Food delivery company DoorDash agreed to pay a $375,000 fine as part of a settlement announced by California Attorney General Rob Bonta addressing alleged violations of the California Consumer Privacy Act.
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News BriefSFO raids kick off probe into collapsed Signature Group
The U.K. Serious Fraud Office carried out several residential raids as it announced the launch of a criminal investigation into collapsed property investment firm Signature Group.
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News Brief
TIAA unit to pay $2.2M for Reg BI lapses
A subsidiary of the Teachers Insurance and Annuity Association of America agreed to pay more than $2.2 million as part of a settlement with the Securities and Exchange Commission for not acting in the best interest of its retail customers regarding their retirement accounts.
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News BriefVanEck fined $1.8M over influencer promo nondisclosure
Van Eck Associates agreed to pay $1.75 million as part of a settlement with the Securities and Exchange Commission regarding its alleged failure to properly disclose the planned involvement of a social media influencer in the launch of an exchange-traded fund.
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PremiumDAG Monaco: AI to be top DOJ enforcement priority
The Department of Justice will seek stiffer penalties in cases where the threat of misconduct was greater because of misuse of artificial intelligence, according to Deputy Attorney General Lisa Monaco.
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PremiumNew SFO director vows quicker cases, stumps for whistleblower payouts
“Under my leadership, the SFO will be bolder, more pragmatic, more proactive,” said Nick Ephgrave in his first public speech as head of the U.K. Serious Fraud Office.
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News BriefZoetis says no action from OFAC in Iran sanctions matter
Zoetis, a developer and manufacturer of vaccines and medicines for animals, disclosed it was informed by the Office of Foreign Assets Control that it won’t face enforcement for potential violations of Iran sanctions uncovered during an acquisition integration.
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News BriefInsurance broker Gallagher off hook in DOJ FCPA probe
Arthur J. Gallagher disclosed the Department of Justice ended an investigation into the insurance broker’s business in Ecuador for potential violations of the Foreign Corrupt Practices Act.
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News BriefSEC, CFTC adopt rule for enhanced large hedge fund disclosures
Large hedge fund advisers will be required to disclose more information on their investment strategies, investment exposure, operations, and more as part of a rule change jointly adopted by the Securities and Exchange Commission and Commodity Futures Trading Commission.
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News BriefRaytheon parent discloses indications of improper payments in Middle East
RTX Corp., parent company of aerospace and defense giant Raytheon, disclosed an internal investigation launched into potential improper payments in connection with contracts in the Middle East found indications of misconduct.
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News BriefChina-based Cloopen Group avoids fine in SEC accounting fraud case
China-based technology company Cloopen Group Holding won’t pay a fine in settling with the Securities and Exchange Commission over an alleged accounting fraud scheme perpetrated by two of its former senior managers.
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News BriefUber facing $11M fine over driver privacy rights violations
Ride-hailing company Uber Technologies was assessed a penalty of €10 million (U.S. $11 million) by the Dutch Data Protection Authority for alleged privacy rights violations regarding the handling of European drivers’ personal data.