Food processing company ADM announced Chief Financial Officer Vikram Luthar, who was placed on administrative leave in January amid a probe into the company’s accounting practices, will resign.
Jeff Dale
Posted inRegulatory Enforcement
Consolidated Nuclear Security to pay $18.4M over timecard false claims
Consolidated Nuclear Security agreed to pay $18.4 million to settle alleged False Claims Act violations regarding the submission of timecards for unworked hours to the National Nuclear Security Administration.
Posted inEurope
BaFin fines Commerzbank $1.6M over supervision, AML lapses
Germany’s financial supervisory authority issued total fines of €1.45 million (U.S. $1.6 million) against Commerzbank AG to settle allegations of inadequate monitoring and anti-money laundering controls.
Posted inEthics & Culture
CW2024 mentors explain why ‘in compliance, you’re never an island’
Mary Shirley is always looking for innovative ways to spur conversation, sharing, and crowdsourcing among compliance professionals. Her workshop at Compliance Week’s 2024 National Conference was no different.
Posted inRisk Management
OFAC sanctions Israeli entities funding West Bank settler violence
The Office of Foreign Assets Control sanctioned two Israeli entities for establishing fundraising campaigns for extremists fomenting violence in the West Bank.
Posted inEurope
SFO outlines five-year strategy amid ‘increasing pace of change’
The U.K.’s Serious Fraud Office said in a five-year strategic plan it’s “struggled to keep pace with demand” as ballooning casework shows no signs of slowing down.
Posted inRegulatory Enforcement
Treasury kicks off new wave of Iran sanctions
The Treasury Department announced new sanctions against Iran, with Treasury Secretary Janet Yellen promising “further actions in the days and weeks ahead” following the Middle East nation’s attack on Israel.
Posted inEthics & Culture
U.S. senator calls for Temu ban over forced labor, privacy concerns
Sen. Tom Cotton (R-Ark.) is calling on the Biden administration to investigate and ban Chinese e-commerce company Temu over forced labor and data privacy violation concerns.
Posted inRisk Management
FinCEN warns of fake U.S. passport cards used to commit fraud
The Financial Crimes Enforcement Network is warning financial institutions of counterfeit U.S. passport cards used to commit fraud and identity theft.
Posted inEurope
U.S., U.K. ban new Russian metal imports
The U.S. Treasury Department, in coordination with the United Kingdom, is clamping down harder on Russia’s ability to wage war against Ukraine by banning the import of Russian-origin aluminum, copper, and nickel.