- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2023-04-04T20:12:00
Social media platform TikTok was fined 12.7 million pounds (U.S. $15.9 million) by the U.K. Information Commissioner’s Office (ICO) for using the personal data of children without parental consent and other violations of data protection mandates.
The ICO accused TikTok of violating the U.K. General Data Protection Regulation (GDPR), which requires companies obtain permission from parents before using the personal data of children under the age of 13.
The company did not seek parental consent before using children’s data between May 2018 and July 2020, the ICO said in a press release Tuesday.
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The U.K. Information Commissioner’s Office proposed a 6.1 million pound (U.S. $7.8 million) fine against Advanced Computer Software Group, an IT contractor for the National Health Service that allegedly failed to secure the data of 83,000 people after a cyberattack.
The Information Commissioner’s Office updated its data protection fining guidance to provide companies with greater transparency and clarity about how and why it would issue penalties for a breach of the U.K. General Data Protection Regulation or Data Protection Act 2018.
The Irish Data Protection Commission announced a penalty of €345 million (U.S. $368 million) against popular social media company TikTok over alleged violations of the General Data Protection Regulation during a five-month period in 2020.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
