The Dutch data protection authority has fined Uber $959.2 million for using automatic decision-making tech to deactivate drivers’ accounts if they received poor customer reviews.
Top Stories
Posted inRegulatory Enforcement
Two Payment processors face bans under FTC orders
Two credit card payment processors have been ordered to pay fines and to steer clear of high-risk merchants for allegedly processing more than $130 million in payments for bogus companies that scammed the public, the FTC announced.
Posted inAccounting & Auditing
U.K. promises corporate reporting reforms will slash compliance costs and focus on reports’ purpose
The U.K. government has published a consultation promising “once in a generation” changes to corporate reporting. It said “common sense” changes will save companies more than $603 million a year.
Posted inArtificial Intelligence
Cox Media Group, two others pay $930,000 for alleged AI hype
Cox Media Group and two other businesses have agreed to pay $930,000 to resolve allegations that they claimed their AI service offered far more benefits than it did, the FTC said.
Posted inArtificial Intelligence
Moody’s urges banks to integrate compliance, culture and AI governance to accelerate processes and drive growth
Compliance teams must focus on governance, culture, and “explainability” to help banks thrive using AI in a competitive, complex regulatory environment. A new survey from Moody’s found this is why most banks now embed compliance from a project’s earliest stages, with only 17 percent treating it as a “final approval gate.”
Posted inBest Practices
Take these three actions to improve trade compliance oversight
Global trade compliance is evolving rapidly, presenting greater complexity and risk. Add geopolitical uncertainty, regional conflicts, protectionism, tariffs, and targeted enforcement, and organizations must reevaluate how they manage cross-border operations to stay competitive and compliant.
Posted inFinancial Services
Statement by U.S. financial regulators clarifies confidentiality of suspicious activity filings
The federal Bank Secrecy Act does not prohibit financial institutions from speaking openly with customers who are the subjects of official SARs, according to a clarifying statement issued by U.S. financial regulators Wednesday.
Posted inRegulatory Enforcement
Compliance implications of the National Fraud Enforcement Division
Eight months after the Trump Administration announced the establishment of a whole-of-government National Fraud Enforcement Division, many in the legal and compliance community are still left speculating about its purpose and scope of enforcement authority.
Posted inRegulatory Enforcement
Honeywell Aerospace pays $2M to settle false claims allegations
Honeywell Aerospace has agreed to pay more than $2 million to settle allegations that the company failed to comply with cybersecurity requirements in a contract with the U.S. Department of Defense, a case first brought by a whistleblower.
Posted inAccounting & Auditing
IIA publishes guidance on how the Three Lines Model and ERM can meet evolving organizational risks
Two new position papers by the IIA highlight the way corporate governance is maturing in line with rapidly emerging risks. The documents focus on the Three Lines Model of governance and on enterprise risk management and set more ambitious parameters for collaboration between multiple governance functions, including compliance.
