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Photo gallery: Compliance Week Europe 2024

2024-10-15T20:40:00+01:00By

Compliance Week Europe, held Oct. 15-16 in Amsterdam in partnership with our sister organization the Internation Compliance Association, gathered more than 200 GRC professionals across industries. Check out some of the sights from the event.

TD Bank

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TD Bank fined nearly $3.1B by U.S. regulators for AML compliance failures

2024-10-11T13:44:00+01:00By

TD Bank will pay nearly $3.1 billion in penalties to four U.S. regulators to settle charges that it “chose profits over compliance” when it allowed three money laundering networks to filter more than $670 million in dirty money through the company.

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AI & Compliance Summit notebook: ‘Think big. Start small. Scale fast.’

2024-10-09T14:35:00+01:00By

When starting artificial intelligence efforts for companies large or small, one approach compliance practitioners said they’ve found works best is to start with a specific use case.

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Event

Photo gallery: Compliance Week AI & Compliance Summit

2024-10-09T15:08:00+01:00By

Compliance Week’s AI & Compliance Summit, held Oct. 8-9 at Boston University, gathered business leaders, academics, and government officials to discuss some of the biggest questions around AI, including business adoption standards, ethical guardrails, and its application in decision making. Check out some of the sights from the summit.

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AI Governance Benchmarking Survey

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This is a Compliance Week Survey, sponsored by GAN Integrity. It is completely anonymous and designed to help benchmark the approaches compliance is taking to AI Governance. Results will be shared by Compliance Week and GAN Integrity in the form of a benchmark report.

More from Compliance Week

Gurbir Grewal

News Brief

SEC enforcement head Grewal to step down

2024-10-03T13:00:00+01:00By

Gurbir Grewal, director of the Securities and Exchange Commission’s Division of Enforcement, will step down from his post Oct. 11. Grewal, who had served as the division’s director since 2021, will be replaced by Sanjay Wadhwa, currently the division’s deputy director, the SEC said.

T-Mobile

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T-Mobile reaches $31.5M settlement with FCC over multiple data breaches

2024-10-03T12:00:00+01:00By

T-Mobile, which experienced three huge data breaches in the past three years, agreed to pay $31.5 million in penalties and remediation for failing to protect millions of its customers’ personal information as part of a settlement with the Federal Communications Commission.

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Starling Bank fined $38.5M for repeatedly onboarding high-risk customers

2024-10-02T18:22:00+01:00By

The U.K.’s Financial Conduct Authority fined Starling Bank, Britain’s first digital bank, nearly 29 million pounds (U.S. $38.5 million) for repeated failures related to onboarding high-risk customers.

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Are the qui tam provisions of the False Claims Act constitutional? A Florida judge just said no

2024-10-02T17:49:00+01:00By

A federal court in Florida has lashed out at federal whistleblower programs by dismissing a mundane False Claims Act case against a medical practice on the grounds that the qui tam provisions of the FCA are unconstitutional.

TD Bank

News Brief

TD Bank unit to pay $28M in penalties for failing to properly supervise rogue trader

2024-10-01T15:38:00+01:00By

Broker-dealer TD Securities failed to prevent a trader from placing and then withdrawing thousands of false trades over the course of a year in part because its compliance department failed to follow up on red flags generated by the illegal trades, three regulators said.

Merrill Lynch sign

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FINRA fines Merrill Lynch, BofA Securities $2.3M for reporting, registration failures

2024-10-01T15:36:00+01:00By

The Financial Industry Regulatory Authority issued two separate fines against Merrill Lynch and BofA Securities totaling nearly $2.3 million for reporting violations and failing to timely file amendments on registration forms for their registered representatives.

Meta building

News Brief

Irish DPC fines Meta $102M over GDPR violation linked to improper storage of passwords

2024-09-27T22:30:00+01:00By

The Irish Data Protection Commission fined Meta Ireland 91 million euros (U.S. $102 million) for multiple violations of the European Union’s General Data Protection Regulation related to the inadvertent storage of user passwords without encryption.

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