Nearly all but a tiny minority of financial institutions saw their costs of financial crime compliance rise in 2023, a survey by LexisNexis and Oxford Economics found.
Adrianne Appel
Adrianne Appel writes regulatory news, policy, and trends for Compliance Week. She previously reported about policy developments for Bloomberg Law and Bloomberg Government.
Email: adrianne.appel@complianceweek.com
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Posted inEthics & Culture
Many dating apps a matchmaker for cybercriminals, study finds
Location-based dating apps are not doing enough to protect user privacy, with exact location and other personal data being exploited by stalkers and bad actors, a recent analysis found.
Posted inRegulatory Enforcement
Avantor agrees to pay $5.3M to settle false claims, chemicals reporting violations
Laboratory supply company Avantor agreed to pay $5.3 million to settle allegations, first brought by a whistleblower, that it overcharged four federal agencies and failed to comply with chemical regulations, the Department of Justice said.
Posted inRisk Management
AI can help reel in ‘unsustainable’ breach costs, IBM report finds
The global average cost of a data breach jumped to an all-time high for the second year in a row, but companies can reel in the ballooning drag on profits by adopting artificial intelligence, according to an IBM report.
Posted inUncategorized
CFPB lawsuit: Rent-a-Center affiliate used dark patterns to trick customers
A nationwide rental outlet affiliated with Rent-a-Center and its chief executive have been sued by the Consumer Financial Protection Bureau for allegedly deceiving five million consumers about the terms of credit agreements.
Posted inRegulatory Enforcement
FCC fines Charter Communications $15M over failing to report 911 outages
Charter Communications agreed to pay $15 million and put in place a “robust” compliance plan, including cybersecurity upgrades, to settle allegations it didn’t comply with emergency 911 and network outage notification rules, the Federal Communications Commission announced.
Posted inRegulatory Enforcement
OSHA orders Maersk to pay $707K over suspending, firing whistleblower
Global shipping giant Maersk Line Limited agreed to pay more than $707,000 and reinstate a seaman who was terminated after he alerted a federal regulatory agency about alleged safety violations, the U.S. Department of Labor’s Occupational Safety and Health Administration said.
Posted inRegulatory Enforcement
DOJ orders Admera Health to pay $5.5M to settle kickback allegations
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
Posted inData Privacy
What’s on tap for CPPA from its deputy director of enforcement
Michael Macko, deputy director of enforcement at the California Privacy Protection Agency, described priorities for the agency now and in the near future during a recent board meeting.
Posted inRegulatory Enforcement
DOJ orders Prysmian unit to pay $920K over alleged fabricated tests to military
Prysmian Cables and Systems USA agreed to pay $920,000 to settle allegations it falsified tests and compliance certifications concerning cable it sold to the U.S. military for use in vehicles, the Department of Justice said.
