A panel of experts discussed trending topics in the compliance space, including the debate over whether humans or machines will lead future efforts to fight financial crime, during the opening keynote at Compliance Week’s Europe conference in London.
Technology
Posted inRisk Management
Digital Transformation of Compliance podcast: Stellantis CCO Darren Bradshaw
In this episode of the Digital Transformation of Compliance podcast series, Darren Bradshaw, chief audit and compliance officer at Stellantis, shares how the automaker has digitized and automated parts of its compliance function.
Posted inData Privacy
Modern-day enterprises: How to prepare for and prove network compliance
The need to prove network compliance is intensifying as lawmakers introduce new privacy legislation and organizations update their contractual security requirements for third-party vendors.
Posted inData Privacy
Expert: How data hoarding increases businesses’ cyber risks
Holding on to data for longer than necessary creates vulnerabilities for businesses by giving cyberattackers more avenues to access an organization’s computer systems.
Posted inRisk Management
Digital Transformation of Compliance podcast: FedEx CCO Justin Ross
In the debut episode of the Digital Transformation of Compliance podcast series, Justin Ross, chief compliance officer at FedEx, speaks to specific areas in which the shipping giant has digitized and automated parts of its compliance function.
Posted inRegulatory Enforcement
Fidelity unit fined $900K by FINRA for due diligence lapses
Fidelity Brokerage Services agreed to pay a $900,000 penalty levied by the Financial Industry Regulatory Authority regarding alleged due diligence failures caused by errors in the firm’s automated screening system.
Posted inRisk Management
NIST framework might help organizations prepare for AI regulations
The new artificial intelligence framework released by the National Institute of Standards and Technology is not a checklist for AI but might help organizations better manage the risks associated with the technology.
Posted inRegulatory Enforcement
Citadel Securities fined $7M for mismarked short, long sales
Miami-based broker-dealer Citadel Securities was fined $7 million as part of a settlement with the Securities and Exchange Commission addressing mismarked short and long sales caused by a coding error in the firm’s automated trading system.
Posted inRisk Management
CFPB warns lenders on use of AI in credit denial process
The Consumer Financial Protection Bureau warned lenders using artificial intelligence in credit denials that consumers must receive accurate and specific reasoning—and not checklists—for why a credit request was denied.
Posted inAnti-Bribery
Survey: Tech gaps, third parties pose biggest ABAC threats
A recent survey conducted by Compliance Week and Morgan Lewis determined areas of insufficient resource support to combat bribery and corruption, along with trends in third-party due diligence.