The Federal Trade Commission was clear in its recent enforcement action against Rite Aid regarding its expectations for companies using facial recognition technology or any biometric security or surveillance systems.
Risk Management
Posted inEthics & Culture
Binance.US names new chief compliance officer
Cryptocurrency trading platform Binance.US, an affiliate independent of its embattled parent company, announced the appointment of Lesley O’Neill as chief compliance officer.
Posted inEthics & Culture
Ethical compliance for facial recognition technology
The lack of clear regulations and guidelines for the ethical use of facial recognition technology further exacerbates concerns of discriminatory practices and potential infringements on human rights.
Posted inRisk Management
NYDFS issues guidance for responding to climate-related risks
The New York State Department of Financial Services issued guidance to regulated banking and lending institutions on managing material financial and operational risks related to climate change.
Posted inEthics & Culture
Compliance with CSRD, CS3D, national laws an EU balancing act
Companies could be in danger of failing to comply with a raft of social responsibility-minded legislation at the European Union and national level because they might mistakenly think duties on corporates overlap when they do not.
Posted inEthics & Culture
Ex-ChristianaCare CCO wins $12M in False Claims Act settlement
The former chief compliance officer of ChristianaCare Health System will receive more than $12 million as part of a settlement addressing his allegations of kickbacks and other False Claims Act violations at the Delaware-based hospital network.
Posted inRegulatory Enforcement
PURE Insurance to pay $466K in OFAC sanctions case
Insurance organization Privilege Underwriters Reciprocal Exchange agreed to pay $466,200 as part of a settlement with the Office of Foreign Assets Control addressing alleged sanctioned transactions on behalf of designated Ukrainian-Russian oligarch Viktor Vekselberg.
Posted inEthics & Culture
Q&A: Wolters Kluwer EVP on using AI to ease data analysis
Sandeep Sacheti, executive vice president for customer information management and operational excellence at Wolters Kluwer, shares with Compliance Week how the company’s financial and corporate compliance division uses artificial intelligence to manage and analyze data.
Posted inEurope
Shades of GDPR? Experts assess AI Act as global standard
As the European Union’s AI Act sets its sights on 2026 to take full effect, experts are concerned other key jurisdictions might introduce divergent legislation that treats artificial intelligence use differently, thus making it difficult for companies to ensure compliance.
Posted inEthics & Culture
Rite Aid gets 5-year facial recognition use ban from FTC
Retail pharmacy chain Rite Aid agreed to a five-year ban on its use of facial recognition technology for surveillance purposes as part of a settlement with the Federal Trade Commission.
