Dutch bank ABN AMRO reached a €480 million (U.S. $575 million) settlement with the Netherlands Public Prosecution Service to resolve money laundering charges.
Europe
Posted inBoards & Shareholders
Danske Bank CEO, board member resign amid ABN AMRO probe
Danske Bank CEO Chris Vogelzang and board member Gerrit Zalm each resigned after being identified as suspects in ABN AMRO’s money laundering scandal. Chief Risk Officer Carsten Egeriis will take over as Danske’s CEO.
Posted inEurope
Facebook facing 10th GDPR probe over data leak
The Irish Data Protection Commission has launched an inquiry into Facebook over concerns the social media giant may not have properly disclosed the full extent of its recent data leak.
Posted inEurope
SFO launches fraud investigation into Buy2Let Cars owner
The U.K. Serious Fraud Office announced a fraud investigation into car leaser Buy2Let Cars and several other companies operated by Raedex Consortium. Further details are expected next month.
Posted inEurope
Facebook’s new leak: Assessing its liability under the GDPR
Old personal data of more than 533 million Facebook users was recently made publicly available on a hacker forum. Could the social media giant face a new investigation under the GDPR in response?
Posted inEurope
Irish DPC seeking answers on Facebook breach
The Irish Data Protection Commission has reached out to Facebook seeking to determine whether the social media giant’s weekend data breach should receive scrutiny under the General Data Protection Regulation.
Posted inEurope
Italian DPA fines Fastweb $5.3M under GDPR for aggressive telemarketing
The Italian Data Protection Authority announced a fine of €4.5 million (U.S. $5.3 million) against telecommunications company Fastweb for misusing customer data for telemarketing purposes.
Posted inEurope
Credit Suisse compliance chief steps down in Archegos collapse aftermath
Credit Suisse Chief Risk and Compliance Officer Lara Warner has stepped down from her role and left the company following the bank’s loss of an estimated $4.7 billion due to the meltdown of hedge fund Archegos Capital Management.
Posted inEurope
Booking.com fined $557K under GDPR for reporting data breach late
Online reservation Website Booking.com has been fined €475,000 (U.S. $557,000) by the Dutch Data Protection Authority for reporting a data breach 22 days later than the 72 hours required under the GDPR.
Posted inEurope
U.K. AML update: New obligations for cryptocurrency firms
Mark Steward, executive director of enforcement and market oversight at the U.K. Financial Conduct Authority, recently shared insights into the agency’s pipeline of AML investigations and what lies ahead for regulated firms.
