The U.K. Serious Fraud Office closed its bribery investigation into power and automation technology provider ABB after concluding the case “did not meet the relevant test for prosecution.”
Europe
Posted inAccounting & Auditing
FRC probes KPMG, PwC over audits of Eddie Stobart Logistics
The U.K. Financial Reporting Council has launched investigations into Big Four firms KPMG and PwC concerning the audits of U.K. logistics company Eddie Stobart Logistics.
Posted inEurope
Six things CCOs need to know about ICO’s AI guidance
The U.K. Information Commissioner’s Office released guidance to help organizations explain how AI is used in decision making and how the technology uses personal data to form judgments.
Posted inEurope
Longtime holdout Ireland issues first GDPR fine
Child and family agency Tusla has become the first company to receive a fine from the Irish Data Protection Commission for violations of the General Data Protection Regulation.
Posted inEurope
Analysis: Fraud in Germany propels new European AML plan
Financial crime expert Martin Woods reviews the “cum-ex” scandal and how a recent action plan from the European Banking Authority aims to help stop such schemes from burgeoning.
Posted inEurope
EC unveils six-point plan to tackle money laundering
The European Commission’s new six-point plan highlights what measures the agency will take to enforce, supervise, and coordinate EU rules on combating money laundering and terrorist financing.
Posted inAccounting & Auditing
KPMG faces $306M negligence claim over Carillion audit
U.K. government liquidators are preparing to sue KPMG for £250 million (U.S. $306 million) over alleged negligence in its audits of collapsed construction firm Carillion.
Posted inEurope
Dutch DPA probing TikTok over children’s privacy
The Dutch Data Protection Authority has launched an investigation into popular social networking service TikTok over whether children’s privacy is being adequately protected.
Posted inEurope
Amazon shuttered in France over COVID-19 emergency costs
E-commerce giant Amazon has shut up shop in France because the cost of compliance with the country’s COVID-19 emergency measures is deemed to be too high.
Posted inEurope
Can a CCO be a DPO? Belgian data authority not so sure
A recent ruling out of Belgium throws water onto the idea that the head of audit, risk, or compliance at a company can also serve as data protection officer as required by the GDPR.
