All Compliance Week articles in Web Issue – Page 183
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DOJ finds Ericsson breached obligations under FCPA agreement
Swedish telecommunications giant Ericsson announced the Department of Justice has determined the company “breached its obligations” under a deferred prosecution agreement entered with the agency in 2019.
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Facebook fined $70M for compliance breaches in Giphy probe
Facebook was fined £50 million (U.S. $69 million) for allegedly breaking U.K. competition rules while the firm is under investigation over its acquisition of Giphy. A separate penalty of £500,000 (U.S. $690,000) was also assessed related to CCO appointments.
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Nielsen principal accounting officer resigns
Global data and analytics firm Nielsen Holdings has appointed CFO Linda Zukauckas as interim principal accounting officer following the resignation of Christopher Taft.
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Coinberry hires chief compliance officer
Canadian cryptocurrency trading platform Coinberry has hired Sheereen Khan as its new chief compliance officer.
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Swedish regulator to Danske Bank: Fix AML failings faster
Sweden’s financial regulator says Danske Bank is not addressing deficiencies in its AML/CFT protocols quickly enough, issuing an injunction ordering the bank to take remedial action.
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CFTC issues record $200M whistleblower award
The Commodity Futures Trading Commission paid out what is believed to be the largest-ever whistleblower award to an individual—nearly $200 million—who provided credible information to open investigations launched by the CFTC, another U.S. regulator, and a foreign regulator.
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Article
FRC launches probe of BDO over NMCN audit
The Financial Reporting Council announced the launch of an investigation into BDO in relation to its audit of U.K. construction and engineering company NMCN, which filed for administration earlier this month.
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Global Privacy Assembly takeaways: ‘Time to get real’ on cross-border cooperation
Privacy regulators believe there must be a push toward greater international cooperation and enforcement if failure to ensure data protection is to be taken as seriously as other corporate offenses.
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Article
Real estate rationalization programs on rise amid COVID
As the COVID-19 pandemic continues and businesses make strategic changes in response, one of the primary areas of focus is managing where employees will work and evaluating real estate portfolios.
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Activision Blizzard compliance update: Personnel changes, transparency goals
Activision Blizzard announced the promotion of Jen Brewer to the role of senior vice president, ethics and compliance amid a series of other measures the embattled company is taking to enhance its culture.
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Compliance tips for effectively presenting data to key stakeholders
Metrics can either strengthen or distract from compliance’s message to key stakeholders. Jennifer Lee, a risk and compliance manager at Caterpillar, shared tips for accomplishing the former at a recent industry event.
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Sky Italia latest fined under GDPR over telemarketing practices
Sky Italia was ordered to pay nearly €3.3 million (U.S. $3.8 million) by Italy’s data protection authority Garante for allegedly misusing customer data to make unwanted promotional phone calls.
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Sponsored
CUBE ESG Conference 2021: Is this just the tip of the iceberg?
CUBE is hosting its 2021 ESG Conference on 4 November, which will feature key industry voices discussing the emerging landscape for financial services and offer practical steps about managing ESG for the best outcomes.
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Credit Suisse reaches $475M global resolution in corruption case
Credit Suisse Group and U.K. subsidiary Credit Suisse Securities (Europe) reached an approximately $475 million global settlement with U.S. and U.K. authorities for the bank’s role in a long-running tainted loan corruption scheme.
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Options Technology appoints chief risk officer
Managed trading infrastructure provider Options Technology announced the appointment of Marlena Efstratopoulou as chief risk officer.
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Strategic Materials names chief compliance officer
North American glass recycler Strategic Materials has named Sherry Williams as its chief compliance officer.
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Article
Treasury issues 5 recommendations for modernizing U.S. sanctions
The U.S. Department of the Treasury issued a series of recommendations as to how to “adapt and modernize” the government’s use of sanctions to enhance their effectiveness in supporting national security objectives.
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Article
CEO of Navy contractor charged with bribery
Frank Rafaraci, CEO of Malta-based ship maintenance company Multinational Logistics Services, has voluntarily returned to the United States to face a criminal charge for his alleged role in a bribery scheme.
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Article
FinCEN report: Ransomware SARs surge past 2020 totals
A Financial Crimes Enforcement Network report on financial trends in Bank Secrecy Act data found a greater number of SARs related to ransomware filed between January and June 2021 than during all of 2020.
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Article
SOS hand signal created for victims of modern slavery
U.K.-based philanthropic organization Stronger Together has created a new hand signal to empower victims of modern slavery to get help. Though developed for the construction sector, the signal can be adopted across any industry as a best practice.