All Europe articles – Page 46
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ArticleU.K. AML report: Data analysis of risks lacking
Implementation of risk-based processes and the data analysis that sits behind them are among the biggest weaknesses laid out in a review of AML efforts in the accounting and legal sectors conducted by the U.K.’s financial watchdog.
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Article
Swedish regulator fines Swedbank record $390M for AML deficiencies
Swedbank AB has been issued a record 4 billion Swedish Krona (U.S. $390 million) administrative fine for what Sweden’s financial watchdog called “serious deficiencies in its management of the risk of money laundering in its Baltic operations.”
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ArticleCoronavirus disrupts hearings in England, Wales, Scotland
The Presidents of the Employment Tribunals in England and Wales and Scotland announced starting next week all in-person hearings will be converted to a case management hearing by telephone or other electronic means.
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ArticleStudy: Fear of data breaches stifling bank innovation
Research by consultancy firm Accenture shows companies in financial services are more concerned with guarding themselves against the impact of a data breach than realizing any financial benefits of using the data.
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ArticleAnalysis: Cyber-attacks spike in Italy linked to coronavirus
Italy, a region in quarantine, is experiencing a spike in attempted cyber-attacks to capture the login credentials of employees working remotely. But not all the attacks have been successful, and that’s where the lessons lie.
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Article
Swedbank announces new risk chief as probe nears end
Swedbank announced the appointment of Rolf Marquardt as chief risk officer just over a week prior to the expected announcement of the findings of a probe into its AML shortcomings conducted by law firm Clifford Chance.
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ArticleSwedbank notifies OFAC of potential sanctions violations
Swedbank announced it has reported approximately $4.8 million worth of transactions that might be subject to U.S. sanctions to the Treasury Department’s Office of Foreign Assets Control.
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ArticleAdvice for European compliance officers dealing with coronavirus
Although the coronavirus situation is constantly changing, lawyers say there are several areas of corporate life that are going to test compliance officers and which management will need greater assurance on.
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ArticleEDPB chair: Processing personal data in the context of coronavirus
The chair of the European Data Protection Board addresses things companies need to consider as they process different types of personal data in the context of the coronavirus.
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ArticleSwedish watchdog fines Google $7.6M for GDPR non-compliance
Google has received its second fine to date for violating Europe’s General Data Protection Regulation; Sweden’s Data Protection Authority fined the internet giant 75 million Swedish Kroner (U.S. $7.6 million).
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ArticleVirgin Media could face GDPR pressure after data breach
Virgin Media is likely to be in the GDPR crosshairs after disclosing a recent breach that affected approximately 900,000 customers to the U.K.’s data regulator.
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ArticleFCA seeks comment on proposed climate-related disclosure requirements
The U.K. Financial Conduct Authority is asking for comment on newly published proposals outlining climate-related disclosure requirements for premium listed issuers.
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ArticleU.K.’s ICO fines Cathay Pacific for pre-GDPR breach
The U.K. Information Commissioner’s Office has fined airline Cathay Pacific £500,000 (U.S. $643,000) for failing to protect the personal data of millions of customers.
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ArticleThree former Barclays execs acquitted of fraud charges
The Serious Fraud Office suffered another major setback in the U.K.’s first trial against bank executives for misconduct during the 2008 financial crisis, after three former executives of Barclays were acquitted of fraud charges.
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ArticleFRC sends letter to Big Four outlining ‘operational separation’
The U.K. Financial Reporting Council penned a letter to the Big Four outlining expectations for how the auditors should go about separating their audit work from their consultancy business.
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ArticleFictitious soccer players at center of money laundering scheme
Europol, the European Union’s law enforcement agency, announced it has uncovered more than €10 million (U.S. $11 million) from fictitious soccer player transfers in a money laundering and tax evasion scheme.
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ArticleProposed EU data strategy spells big changes for Big Tech
The European Commission unveiled its long-awaited plans about how it wants to regulate artificial intelligence as well as promote greater data sharing throughout the EU to stimulate further growth and competition in digital services.
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ArticleFRC to review how U.K. companies, auditors address climate change
The U.K. Financial Reporting Council announced it will begin reviewing the extent to which U.K. companies and auditors are responding to the impact of climate change to ensure reporting requirements are being met.
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ArticleCompliance lessons from Julius Baer’s ‘serious AML failings’
Compliance officers can learn a lot from the anti-money laundering compliance shortcomings at Julius Baer Group, as well as from what the bank is now doing to enhance its risk management and AML compliance controls.
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ArticleIreland GDPR caseload nearly doubled in 2019
The Irish Data Protection Commission received 7,215 complaints during the first full year the General Data Protection Regulation was in force, representing a 75 percent increase on 2018’s figures of just over 4,000.