Articles | Compliance Week – Page 12
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ArticleNodusBank avoids fine in OFAC case over Venezuela sanctions violations
Nodus International Bank was found to have violated U.S. sanctions against Venezuela by the Office of Foreign Assets Control for allowing three unlicensed transactions on a blocked account.
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ArticleEyeMed fined $4.5M over cybersecurity lapses that led to breach
EyeMed Vision Care agreed to pay $4.5 million as part of a settlement with the New York State Department of Financial Services for cybersecurity control failures that helped enable a 2020 data breach.
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ArticleICO guidance stresses importance of reasoning in employee monitoring
The U.K. Information Commissioner’s Office issued draft guidance to help ensure employers’ monitoring of staff performance does not turn into surveillance or harassment.
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ArticleLafarge to pay $778M for supporting terrorist groups ISIS, ANF in Syria
French multinational building products company Lafarge pleaded guilty to providing material support and resources to two U.S.-designated foreign terrorist groups in Syria, representing the Department of Justice’s first corporate material support for terrorism prosecution.
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ArticleDOJ intervenes in lawsuit against Cigna alleging Medicare fraud
Cigna created a home visit program for Medicare patients that artificially inflated government payments by intentionally incorrectly diagnosing tens of thousands of patients with serious illnesses, the Department of Justice charged in an intervenor complaint.
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ArticleSpielman Koenigsberg & Parker partner fined record $150K for misleading PCAOB
Jonathan Taylor, an audit partner at accounting firm Spielman Koenigsberg & Parker, agreed to pay a record $150,000 fine handed down by the Public Company Accounting Oversight Board for misleading its investigators over the course of multiple inspections.
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FCA enforcement director to depart
Mark Steward, the longtime executive director of enforcement and market oversight at the U.K. Financial Conduct Authority, announced his intention to step down in the spring.
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Stewart Information Services CCO to retire
Stewart Information Services Corp., a global real estate services company, announced the planned retirement of Chief Compliance Officer John Killea, effective early next year.
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ArticleAT&T to pay $23M to settle Illinois bribery probe
An Illinois-based subsidiary of AT&T will pay $23 million and revamp its ethics and compliance program following a criminal investigation into bribes the company paid attempting to influence the Illinois state legislature.
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ArticleFashion retailer Zoetop to pay $1.9M over data breach response
Zoetop, parent company to online clothing retailers SHEIN and ROMWE, agreed to pay $1.9 million as part of a settlement with the New York Attorney General’s Office for failing to properly protect customer information compromised during a 2018 data breach.
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ArticleAustralia’s Star casino fined record $62M over money laundering scandal
The Star Entertainment Group, operator of Australia’s second largest casino, was penalized a record AUD$100 million (U.S. $62 million) by the country’s casino regulator for failures to prevent money laundering at its Sydney location.
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ArticleAI monitoring benefits must be weighed against employee skepticism
The EU’s agency for occupational safety and health released a report examining the risks and opportunities of AI-based worker management systems for employee’s physical and mental wellbeing.
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ArticleGatehouse Bank fined $1.77M for inadequate customer due diligence
Gatehouse Bank was fined £1.58 million (U.S. $1.77 million) by the U.K. Financial Conduct Authority for failing to address “significant weakness” in AML checks the bank conducted on customers who posed a higher risk of committing financial crime.
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DermaTran, other pharmacies settle with DOJ over pain cream false claims
DermaTran Health Solutions, its related pharmacy billing company, and three retail pharmacies agreed to pay more than $6.8 million to settle alleged violations of the False Claims Act for charging patients in federal health programs extra for pain relief creams.
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ArticleOSHA widens enforcement scope with severe violator program update
More companies and industries are at risk of falling under the Occupational Safety and Health Administration’s Severe Violator Enforcement Program now that the Labor Department agency has broadly expanded its enforcement scope.
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Intel appoints chief compliance officer
Technology giant Intel Corp. promoted Carol Tate to vice president and chief compliance officer.
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USOSM names chief compliance officer
U.S. Oral Surgery Management announced the appointment of Erik Pahl as general counsel and chief compliance officer.
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ArticleSEC order against recidivist Oracle skirts the issue
The most notable and relevant details in settlement agreements concerning regulatory compliance violations are often what is not stated. The SEC’s cease-and-desist order against Oracle over violations of the Foreign Corrupt Practices Act is no exception.
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ArticleReport: Global anti-bribery enforcement levels hit record low
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.
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ArticleU.S., U.K. improve anti-corruption coordination with data access agreement
A new agreement will allow law enforcement agencies in the United Kingdom and United States to gain better access to data held by tech and telecommunications firms from the other’s country as part of evidence gathering for complex white-collar crimes.