All articles by Kyle Brasseur – Page 5
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News BriefFinCEN analysis: Most common identity-related suspicious activities
Fraud remains the leading form of identity-related suspicious activity cited in Bank Secrecy Act reports by a large margin, while technologies enable greater overall risks around exploitation, according to new research from the Financial Crimes Enforcement Network.
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News BriefFTC bans Outlogic from selling sensitive location data in landmark action
Data broker Outlogic will be subject to the Federal Trade Commission’s first ban on the use, sale, or disclosure of sensitive location data as part of a proposed order announced by the agency.
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News BriefReport: Canada’s FINTRAC to increase reliance on AI
Canada’s financial intelligence agency aims to increase its use of artificial intelligence technology to improve its capabilities to analyze data and detect suspicious activity, according to an agency official.
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OpinionTen things I’d like to see happen in 2024
Election years in the United States, United Kingdom, and at European Parliament, along with ongoing geopolitical tensions, make 2024 difficult to predict—aside from the expectation compliance officers will be busy.
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News BriefAtlantic Home Health Care to pay $10M over energy program false claims
Atlantic Home Health Care LLC agreed to pay nearly $10 million as part of a settlement with the Department of Justice addressing the alleged submission of false claims to the Department of Labor’s Energy Employees Occupational Illness Compensation Program.
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News BriefMoffitt Cancer Center cooperation lauded in $20M DOJ false claims case
H. Lee Moffitt Cancer Center & Research Institute Hospital agreed to pay nearly $20 million as part of a settlement with the Department of Justice addressing alleged violations of the False Claims Act for improperly billing federal healthcare programs.
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News BriefBinance.US names new chief compliance officer
Cryptocurrency trading platform Binance.US, an affiliate independent of its embattled parent company, announced the appointment of Lesley O’Neill as chief compliance officer.
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News BriefSEC’s Uyeda sworn in for second commissioner term
The Securities and Exchange Commission announced Mark Uyeda will serve a second term as commissioner through 2028.
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News BriefCMMC implementation plan takes shape in proposed rule
The Department of Defense released for comment a proposed rule setting guidelines for implementation of the Cybersecurity Maturity Model Certification program.
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News BriefLPL Financial fined $5.5M by FINRA over transaction supervision lapses
Independent broker-dealer LPL Financial agreed to pay more than $6 million as part of a settlement with the Financial Industry Regulatory Authority addressing alleged supervision failures regarding direct business transactions and the suitability of switch transactions.
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News BriefInteractive Brokers fined $3.5M in FINRA action
Electronic trading platform Interactive Brokers received a $3.5 million penalty from the Financial Industry Regulatory Authority for multiple alleged violations of the self-regulatory organization’s rules regarding execution and supervision.
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News BriefOEP Capital Advisors fined $4M over policy failures
OEP Capital Advisors agreed to pay a $4 million penalty as part of a settlement with the Securities and Exchange Commission addressing alleged deficiencies regarding the prevention of misuse of material nonpublic information.
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News BriefEx-ChristianaCare CCO wins $12M in False Claims Act settlement
The former chief compliance officer of ChristianaCare Health System will receive more than $12 million as part of a settlement addressing his allegations of kickbacks and other False Claims Act violations at the Delaware-based hospital network.
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News BriefSEC fines UAE-based Brooge Energy $5M in fraud case
Brooge Energy agreed to pay $5 million in a settlement with the Securities and Exchange Commission resolving fraud charges related to a scheme to inflate revenues.
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News BriefPURE Insurance to pay $466K in OFAC sanctions case
Insurance organization Privilege Underwriters Reciprocal Exchange agreed to pay $466,200 as part of a settlement with the Office of Foreign Assets Control addressing alleged sanctioned transactions on behalf of designated Ukrainian-Russian oligarch Viktor Vekselberg.
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News BriefCFTC names chief data officer to boost analytic capabilities
The Commodity Futures Trading Commission announced two appointments to its Division of Data designed to help the agency leverage analytics and emerging technologies to improve its policymaking and oversight efforts.
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News BriefFTC seeking comment on proposed COPPA enhancements
The Federal Trade Commission issued a notice of proposed rulemaking to strengthen data security requirements and modernize certain aspects of the Children’s Online Privacy Protection Act Rule.
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News BriefPhilips unit settles DOJ false claims case for $14.7M
Wireless medical technology company BioTelemetry and its subsidiary LifeWatch Services agreed to pay more than $14.7 million as part of a settlement with the Department of Justice regarding alleged false claims submitted to federal healthcare programs.
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News BriefRite Aid gets 5-year facial recognition use ban from FTC
Retail pharmacy chain Rite Aid agreed to a five-year ban on its use of facial recognition technology for surveillance purposes as part of a settlement with the Federal Trade Commission.
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News BriefCommunity Health Network to pay $345M in historic Stark Law case
Indiana-based Community Health Network agreed to pay $345 million as part of a settlement with the Department of Justice resolving allegations it overcompensated physicians it employed at a rate that violated the Stark Law.