While bribery can provide companies with major short-term gains, there is little evidence to support many other beliefs surrounding the “return on investment,” according to a new study.
Europe
Posted inEurope
Firms could face enforcement as U.K. cracks down on furlough fraud
Companies are at risk of being investigated by the U.K.’s tax authority over fears that up to two out of every three employees worked during lockdown while their employers illegally claimed salaries from the government’s furlough program.
Posted inEurope
European Commission: No Privacy Shield replacement in sight
The European Commission this week warned there will be “no quick fix” to replace the now-invalidated Privacy Shield, which governed data transfers between the European Union and United Sates.
Posted inEthics & Culture
Credit Suisse faces FINMA enforcement in corporate espionage case
Credit Suisse is learning the hard way that spying on former colleagues is frowned upon, following announcement of an enforcement proceeding against the Zurich-based bank by the Swiss Financial Market Supervisory Authority.
Posted inEurope
FCA seeks comment on proposal to expand scope of financial crime reporting obligations
The U.K. Financial Conduct Authority seeks comment on a new proposal that would widen the scope of its annual financial crime reporting obligations to include firms whose regulated activities potentially pose a higher money laundering risk.
Posted inEurope
In absence of guidance, EU data authorities take different approaches to Privacy Shield ruling
It appears Europe’s data authorities are prepared to interpret a key court judgement as they see fit in the absence of definitive guidance from the bloc’s primary privacy regulator.
Posted inAccounting & Auditing
What the Wirecard story tells us about red flags, healthy skepticism
How we came to learn about the fraud allegedly perpetrated by Wirecard offers important lessons in compliance and corporate governance, writes financial crime expert Martin Woods.
Posted inAccounting & Auditing
Credit to KPMG for shining a light on fraud at Wirecard
A scathing report on the extensive fraud at German payment giant Wirecard had a compliance silver lining: KPMG’s by-the-books, transparent approach to a special audit helped bring that fraud to light.
Posted inEurope
Assessing U.K. sanctions in a post-Brexit world
Can the United Kingdom play with the big boys when it comes to issuing its own sanctions, and what do compliance professionals need to know as Brexit’s start date looms closer?
Posted inEurope
Clash over draft Twitter GDPR decision exposes differences among EU authorities
As Ireland’s first GDPR decision against Big Tech hangs in limbo, experts are scratching their heads as to why a seemingly straightforward case is headed to the EU’s data governing body to rule on.
