Todd Hartman, general counsel and chief risk officer of Best Buy, shares the catalyst behind revamping the retailer’s second line of defense and the lasting benefits of separating compliance from legal.
Is the Department of Justice’s focus on individual accountability in white-collar crime cases encouraging companies to scapegoat their employees? A recent court filing in a $6 billion corporate fraud case could give company officers some sleepless nights.
Companies are at serious risk of facing multiple fines for the same offense under different sets of legislation if the artificial intelligence technologies they employ misuse personal data or cause harm to consumers, according to legal experts.
More from Compliance Week
The Federal Reserve Board denied the application of Custodia Bank for membership in the Federal Reserve System, citing weaknesses in the digital-first bank’s anti-money laundering protocols as part of its decision.
Sens. Elizabeth Warren (D-Mass.) and Ron Wyden (D-Ore.) called on the Public Company Accounting Oversight Board to address so-called “sham audits” of cryptocurrency companies by registered auditors in the aftermath of the collapse of FTX.
The Public Company Accounting Oversight Board’s latest batch of 2021 audit inspection reports included a setback in results for Marcum largely related to the firm’s work dealing with special purpose acquisition companies.
U.K. online gaming company In Touch Games was fined £6.1 million (U.S. $7.6 million) by the country’s Gambling Commission for a series of anti-money laundering failures—its third such penalty since 2019.