The decision by France’s data regulator to fine an Amazon warehouse manager for breaches of the General Data Protection Regulation over the way it monitored employee productivity raises questions about the reach data protection authorities have over corporate conduct.
Risk Management
Posted inBoards & Shareholders
Alphabet to pay shareholders $350M over Google+ privacy lapses
Alphabet, the parent company of technology giant Google, agreed to pay $350 million in a preliminary settlement with shareholders over alleged data privacy violations and materially false and misleading statements linked to now-defunct social media site Google+.
Posted inEthics & Culture
Compliance with growing number of U.S. privacy laws ‘a matter of culture change’
Different deadlines associated with the 13 U.S. state privacy laws currently on the books, including grace periods and enforcement dates, have proven challenging for compliance, experts discussed at CW’s Cyber Risk & Data Privacy Summit.
Posted inBoards & Shareholders
Experts: Good data breach response grounded in preparation
Two chief compliance officers and an attorney discussed preparation for the “when, not if” threat of a data breach during a panel at CW’s Cyber Risk & Data Privacy Summit.
Posted inRisk Management
Clorox discloses $49M hit from cyberattack
Cleaning products company Clorox disclosed the major cybersecurity incident that led to a shutdown of its automated order processing late last year has cost it about $49 million.
Posted inEurope
Jury out on viability of AI in ESG reporting
Tech vendors believe ESG reporting is a ripe market for artificial intelligence to help companies sift through data and ensure compliance with both mandatory and voluntary reporting standards. Compliance officers appear less sure.
Posted inRegulatory Enforcement
Blackbaud avoids fine in FTC deal requiring data deletion
Software company Blackbaud will be required to delete unnecessary data and boost cybersecurity as part of a proposed settlement with the Federal Trade Commission stemming from a 2020 data breach.
Posted inRisk Management
FinCEN alert flags Israeli extremists fomenting violence in West Bank
The Financial Crimes Enforcement Network issued an alert addressing the financing of Israeli extremist settler violence against Palestinians in the West Bank.
Posted inRisk Management
ACAMS survey: Budget cuts, criminal tech innovation top 2024 threats
Nearly 800 financial crime professionals said the biggest threats to the effectiveness of their anti-money laundering programs are budget cuts and their inability to keep pace with more aggressive and innovative uses of technology by criminals to commit fraud.
Posted inInternal Controls
City National Bank ordered to pay $65M over deficient risk, internal controls
The Office of the Comptroller of the Currency levied a $65 million civil penalty against Los Angeles-based City National Bank over alleged risk management and internal control failures.
