All Europe articles – Page 4
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ArticleSwedish regulator delays SEB money laundering probe
Sweden’s financial regulator announced it will wait until June to conclude its money laundering investigation into Scandinavian Enskilda Banken AB (SEB) due to the coronavirus pandemic.
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8 compliance challenges facing European companies in coronavirus crisis
Due diligence, data, solvency, and supply chain management risks are just some of the issues Europe’s employers are struggling with as normal business has come to a standstill during the coronavirus pandemic.
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Swedbank cuts ex-CEO’s severance following AML probe
Swedbank has canceled the severance pay of its former CEO and accepted a record fine of 4 billion Swedish Krona (U.S. $390 million) in the wake of the findings of an independent investigation into its anti-money laundering deficiencies.
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Confusion around GDPR during coronavirus prompts EDPB response
The European Data Protection Board has released a statement attempting to clarify how personal data can be processed by companies during the ongoing coronavirus pandemic.
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U.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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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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Coronavirus 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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Study: 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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Analysis: 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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For some companies in the age of coronavirus, ethics pays
Despite slow governmental response to the coronavirus outbreak that is grinding the world economy to a halt, several businesses have decided it is worth going above and beyond to help customers and employees.
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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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Swedbank 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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Advice 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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EDPB 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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Swedish 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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John Wood Group reserves $46M to resolve bribery investigations
John Wood Group said in a regulatory filing it has reserved $46 million in a potential settlement with authorities in the United States, Brazil, and Scotland related to a bribery investigation concerning ties to Monaco-based oil services firm Unaoil.
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Virgin 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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FCA 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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Alstom exec's acquittal calls FCPA jurisdiction into question
A federal court in Connecticut acquitted a former Alstom employee on FCPA charges following a Second Circuit decision. But the story does not end there.
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U.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.
