Julius Baer International will pay more than £18 million (U.S. $21.5 million) to settle charges laid by the U.K. Financial Conduct Authority for paying bribes to generate business with a Russian oil company.
Europe
Posted inEurope
Danish financial regulator refers Jyske Bank to police for AML violations
The Danish Financial Supervisory Authority reported Jyske Bank to Danish police for allegedly violating the country’s anti-money laundering law regarding its customer due diligence measures.
Posted inEurope
Experts: AML efforts dealt blow by CJEU beneficial ownership ruling
Determining the true owner of a company might become more difficult after Europe’s top court ruled automatic access to registers of beneficial ownership conflicted with the right to privacy.
Posted inEurope
Meta fined $274M under GDPR for data scraping breach
Meta Platforms Ireland was fined €265 million (U.S. $274 million) for failing to put in place adequate measures to protect users’ data after a leak compromised the personal details of more than half a billion individuals.
Posted inEurope
Privacy advocate sues Meta over targeted ad GDPR violation claims
A privacy and human rights advocate sued Meta Platforms in the United Kingdom, claiming the social media giant is refusing her request to stop being targeted with advertising based on her use of Facebook.
Posted inEurope
Regulatory independence vital in U.K.’s fight against fraud
To do their jobs properly, regulators must be able to act independently and without government intervention. Rather than seeking to tighten its grip on regulators, the U.K. government should be safeguarding their independence as a matter of urgent priority.
Posted inAnti-Bribery
Ex-BP trader’s failed whistleblower claim to raise U.K. reporting bar?
A U.K. employment tribunal’s ruling that a former BP employee was not entitled to whistleblower protection has shone a spotlight on the legal issues workers must consider ahead of speaking up.
Posted inEurope
Discord fined $830K for GDPR lapses
Discord, a popular communication service primarily utilized by the video game community, was assessed a fine of €800,000 (U.S. $829,000) by the French data protection authority for multiple violations of the General Data Protection Regulation related to safeguarding user data.
Posted inEurope
CW Europe panelists: ESG reporting still in ‘immature’ phase
Companies are continuing to fail in their efforts to improve environmental, social, and governance reporting, while compliance functions are finding it tough to keep up with demands for better assurance in the area, according to experts.
Posted inEthics & Culture
CW Europe: Compliance challenges in 2023 and beyond will look a bit different
Dealing with risks relating to artificial intelligence; diversity, equity, and inclusion; and shortfalls in staff, training, and expertise are set to be among the biggest challenges for compliance officers in 2023 and the years ahead, say practitioners.
