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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2022-10-12T20:47:00
A new agreement will allow law enforcement agencies in the United Kingdom and United States to gain better access to emails, messages, photos, and texts held by tech and telecommunications firms from the other’s country as part of evidence gathering for complex white-collar crimes.
The data access agreement between the countries, authorized by the Clarifying Lawful Overseas Use of Data (CLOUD) Act in the United States, entered force Oct. 3. Under the terms of the pact, data requests by the countries can only be made for offenses that relate to the prevention, detection, investigation, or prosecution of serious crime that could result in a maximum jail term of at least three years, such as fraud, bribery, and money laundering.
The Department of Justice will oversee the agreement in the United States, with the U.K. Home Office serving as its counterpart.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2022-10-13T12:34:00Z By Neil Hodge
Only the United States and Switzerland can be considered “active enforcers” in tackling foreign bribery, while countries like the United Kingdom and Israel have taken a step back, according to the latest report from Transparency International.
2022-10-10T14:16:00Z By James Thomas, International Compliance Association
The Fintel Alliance—a partnership involving AML regulator AUSTRAC, Western Australia Police, and analysts from a handful of large banks—provides an example of the positive outcomes of collaboration in fighting financial crime.
2022-07-22T18:08:00Z By Neil Hodge
The U.K.’s Serious Fraud Office was criticized for its leadership, culture, and conduct in a report examining why the agency botched a key corruption case against Unaoil that has now seen three convictions overturned.
2024-12-20T17:39:00Z By Aaron Nicodemus
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
2024-12-18T18:08:00Z By Adrianne Appel
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
2024-12-17T20:57:00Z By Adrianne Appel
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
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