British Airways faces the largest group claim ever made in U.K. legal history over a 2018 data breach that exposed the financial and personal details of more than 400,000 of its customers.
Europe
Posted inEurope
CJEU opinion could further expose Big Tech under GDPR
Any European Union data protection authority should be allowed to pursue legal action against Big Tech firms over privacy issues, according to an opinion from the advocate general of the region’s top court.
Posted inEthics & Culture
German laptop retailer fined $12.7M under GDPR for employee surveillance
A German data regulator fined an online laptop and electronic goods retailer €10.4 million (U.S. $12.7 million) for video-monitoring employees for at least two years without legal basis.
Posted inEurope
U.K. tax authority fines MT Global record $32.4M for AML failures
MT Global Limited, a U.K.-based money transfer company, was hit with a record £23.8 million (U.S. $32.4 million) fine by the U.K.’s tax authority for violations of anti-money laundering regulations.
Posted inEurope
Five key points from the EU-UK Brexit trade deal
The Brexit trade deal agreed to by the European Union and United Kingdom details how all business between the two markets will be transacted from now on. Neil Hodge examines five key areas of the deal.
Posted inEurope
Fines against financial institutions hit $10.4B in 2020
Financial institutions have been hit with $10.4 billion in global fines and penalties related to AML, KYC, data privacy, and MiFID regulations in 2020, according to a recent Fenergo report.
Posted inEurope
GDPR priorities for 2021: Twitter ruling stresses need for harmonization
European data protection authorities need to speed up their decision-making processes—especially with regard to cross-border complaints—before regulators lose patience and find legal means to mete out penalties under national laws instead of the GDPR.
Posted inEurope
Charles Schwab U.K. fined $12M for failing to protect client assets
The U.K. Financial Conduct Authority fined Charles Schwab U.K. approximately £9 million (U.S. $12 million) for compliance failures related to the protection of client assets.
Posted inEurope
OFAC closes investigation into Danske Estonia case
Danske Bank received a no-action letter from the U.S. Department of the Treasury’s Office of Foreign Assets Control regarding an investigation at the bank’s infamous Estonian branch.
Posted inEurope
U.K. court upholds insider trading charges against former UBS compliance officer
A U.K. appeals court upheld five insider trading convictions against a former senior compliance officer at investment bank UBS.
