Articles | Compliance Week – Page 6
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ArticleDOJ is ramping up, not ramping down, health care fraud enforcement
While the Trump administration may have shifted away from pursuing small, white-collar, financial crimes, its focus on health care fraud cases is as hot as ever.
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ArticleU.K. enforcement appetite over off-channel comms grows as U.S. wanes
The U.K’.s financial regulator has given a strong indication that financial firms’ use of unauthorized devices and apps is under scrutiny and that policies around off-channel communications need to be tightened up.
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ArticleRetailers face new compliance pressures from tariffs, sanctions, fraud and cybercrime
Regulators are pressuring retail compliance teams on supply chains, shifting sanctions and tariffs, sustainability, and digital commerce. Rising cyberattacks heighten data security concerns, while large retailers push legal and commercial requirements down their supply chains.
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ArticleCompliance should prepare for more ESG reporting as global pressure rises
Most major organizations are not changing their ESG reporting plans, despite “regulatory ambiguity”, according to a report by consultancy KPMG. The researchers say this indicates market expectations are driving action as much as legal requirements.
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ArticleFinCEN seeks to lighten the regulatory load on casinos
Regulatory relief from anti-money laundering rules is in the cards for casinos, insurance companies and other non-bank financial institutions, the U.S. Treasury Department’s Treasury’s Financial Crimes Enforcement Network (FinCEN) said Monday.
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ArticleGeopolitical risks among compliance concerns for metals, mining companies
Companies working in the metals and mining sectors face increased compliance checks due to efforts to clamp down on abuses in the supply chain, while “volatile” geopolitical changes make sourcing and transporting raw materials more difficult and expensive.
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ArticleErica Curry: Why I became a compliance officer
I never planned to become a Compliance Officer. My path began in banking, shifted into risk management, and eventually brought me to compliance. What convinced me to stay was the realization that my work could solve real problems that affect real people.
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ArticleTimothy Miller: To be a compliance officer is to be a guardian of trust
I am often asked, when I speak at conferences, “Why compliance as a career?” To be completely transparent and honest, when I first started my career, what I was doing was not called “compliance” per se.
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ArticleAustralian banks’ record fines for compliance failures highlight role of culture in compliance
Two of the biggest banks in Australia are under fire for major compliance and cultural failings. ANZ and National Australia Bank are facing intense scrutiny over misconduct ranging from mistreating customers to underpaying staff.
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ArticleBoard chair of Puerto Rico bank helped its collapse by siphoning millions
The board chair of a failed Puerto Rican bank played a key role in its $92 million collapse by robbing it of more than $13.6 million, the Department of Justice said Monday. Juan Francisco Ramirez, board chair of Nodus International Bank, pleaded guilty to stealing the millions, agreed to forfeiture ...
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ArticleProsecutions of bribery, health fraud and market tampering are DOJ top priorities
Serious bribery, health care fraud and crimes that threaten U.S. investors are top enforcement priorities of the Trump Department of Justice, (DOJ), according to the acting head of the Department of Justice’s Criminal Division.
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ArticleU.K. to introduce mandatory ransomware reporting, raising risk of ‘box-ticking’ compliance
The U.K. will require companies to report ransomware payments, but experts warn this could lead to “box-tick” compliance rather than real cyber-resiliency, since it’s cheaper.
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ArticleMore than 100 ‘anticompetitive’ federal regulations poised for the chopping block
About 125 federal regulations deemed anticompetitive by President Trump are poised for possible elimination, following recommendations delivered Wednesday to the Office of Management and Budget (OMB).
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ArticleFlorida seafood exec faces 10 years for crab claw price fixing
A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishers, the Department of Justice said.
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ArticleFormer U.S. clothing business CEO faces 25 years for bribery in Honduras
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
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ArticleDigital wallets to speed up regulatory checks for recruitment, property transactions
You can already buy a coffee with your phone, but soon you could start a job or buy a house with it. Digital compliance wallets holding certificates and documents on smartphones are gaining traction worldwide.
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ArticleEU targets crypto, fintech firms in push to tackle money laundering
Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
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ArticleU.K. delays audit reforms even as regulator piles on financial pressure
Delays to the U.K.’s Audit Reform and Corporate Governance Bill and creation of the ARGA regulator have sparked criticism. On Sept. 8, 66 MPs sent a letter to the Prime Minister urging reforms be returned to the Parliamentary agenda.
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ArticleCalifornia, Colorado, and Connecticut launch joint crackdown on privacy violators
California, Colorado, and Connecticut launched a joint enforcement sweep against businesses that fail to honor consumers’ online opt-out requests, the states announced Tuesday.
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ArticleGoogle hit with $425.6 million verdict in California privacy case
Google allegedly collected personal data from mobile devices without permission, violating California privacy laws, a jury ruled in awarding more than $425.6 million to class-action plaintiffs.