All COVID-19 articles
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ArticleNew York lab CEO allegedly billed insurers for $500M in fraudulent COVID test claims
The U.S. Department of Justice says the chief executive and medical director of Fast Lab Technologies allegedly engaged in a $500 million fraud scheme involving COVID-19 tests.
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News BriefDelta to pay $8.1 million over False Claims Act violations tied to pandemic aid
Delta Air Lines agreed to pay $8.1 million over allegations it violated the False Claims Act by exceeding employee compensation limits it agreed to when taking federal pandemic aid money.
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News BriefDOJ orders consultants to pay $11.3M total for cyber rule violations
Guidehouse and Nan McKay and Associates will pay a total of $11.3 million to the Department of Justice (DOJ) to settle allegations that cybersecurity failures led to the theft of client personal information during the height of the COVID-19 pandemic.
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News BriefCityMD to pay $12M over Covid-19 false claims
CityMD, the largest provider of urgent care practices across New York and New Jersey, agreed to pay approximately $12 million as part of a settlement with the Department of Justice addressing the alleged submission of false claims for payment for Covid-19 testing.
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News BriefU.S. Bank to pay $36M in CFPB, OCC settlements
U.S. Bank agreed to pay nearly $36 million total in separate settlements with the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency for allegedly impeding consumers’ access to their unemployment benefits during the Covid-19 pandemic.
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News BriefMedical center to pay $80K for Covid-19 patient info shared with media
Saint Joseph’s Medical Center agreed to pay $80,000 as part of a settlement with the Department of Health and Human Services’ Office for Civil Rights for potential violations of the Health Insurance Portability and Accountability Act.
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News BriefMetropolitan Commercial Bank fined $30M for third-party oversight failings
New York-based Metropolitan Commercial Bank was assessed nearly $30 million in penalties by federal and state banking regulators for failing to properly oversee a third-party program manager whose prepaid cards were a popular target of fraud during the Covid-19 pandemic.
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PremiumQ&A: Bangladeshi compliance AVP on future of AML, leadership strategies
Rezaul Karim, assistant vice president, risk and compliance at HSBC Bangladesh, discusses with Compliance Week recent changes in KYC/AML compliance, how new technology is shaping the banking industry, and strategies for building and leading effective AML teams.
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News BriefCFTC fines Goldman Sachs $5.5M over new recordkeeping failures
Goldman Sachs was fined $5.5 million by the Commodity Futures Trading Commission as part of a settlement addressing alleged audio recordkeeping violations that followed a previous consent order the bank reached with the agency.
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PremiumQ&A: FlightHub compliance officer on shift to culture of compliance
Sona Bedrossian, FlightHub Group’s general counsel and compliance officer, explains to Compliance Week how the online travel agency embeds compliance into its technology.
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News BriefSEC on guard in adopting money market fund reforms
The Securities and Exchange Commission voted to approve rule changes affecting money market funds that the agency hopes fare better than previous efforts in the space.
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PremiumKroll survey: Firms rapidly adopting AI tools for financial crime compliance
A new survey of senior leaders and risk professionals from around the world found more than half the respondents have turned to artificial intelligence technology to address a perceived rise in financial crime risks, although most solutions are still rather new.
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PremiumCW2023 think tank: Compliance officers grapple with post-pandemic world
Senior-level compliance professionals granted anonymity met to candidly discuss the compliance officer’s role in a post-pandemic environment during a Day 1 think tank at Compliance Week’s 2023 National Conference.
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News BriefFRC: KPMG audit failings at The Works exacerbated by Covid-19
The U.K. Financial Reporting Council fined Big Four audit firm KPMG approximately £1 million (U.S. $1.2 million) for deficiencies in its work on the 2020 year-end financials of discount retailer TheWorks.co.uk.
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News BriefPopular Bank fined $2.3M by Fed over fraudulent PPP loan approvals
The Federal Reserve Board fined New York-based Popular Bank $2.3 million for processing Paycheck Protection Program loans despite finding significant indications of possible fraud in the loan applications.
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ArticleDOJ seeking Rennova Health return pandemic relief funds
The Department of Justice requested Rennova Health repay Covid-19 relief funds it received in 2020 as part of a whistleblower lawsuit against the healthcare services provider alleging ineligible use of the money.
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PremiumCW Europe: Rebuilding a culture of compliance post-pandemic
Remote and hybrid working caused by the pandemic has meant it can be more difficult for organizations to monitor compliance and detect incidences of rules being broken or procedures not being followed.
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ArticleCFPB probes U.S. Bank over its handling of unemployment benefit payments
U.S. Bank disclosed the Consumer Financial Protection Bureau launched an investigation into the bank’s administration of unemployment benefits during the Covid-19 pandemic.
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ArticleICO guidance stresses importance of reasoning in employee monitoring
The U.K. Information Commissioner’s Office issued draft guidance to help ensure employers’ monitoring of staff performance does not turn into surveillance or harassment.
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ArticleAA study: Total audit fees rise in 2021
Total audit fees increased in fiscal year 2021 as the number of Securities and Exchange Commission registrants reached its highest total in six years, according to the latest annual review from Audit Analytics.