Technology


AI regulation

Survey: Spending on AI, new tech to increase despite known risks

2022-07-05T13:44:00+01:00By

Companies are set to ramp up spending on artificial intelligence and other technologies in the coming years despite expectations of rising legal disputes over its use and implementation, according to a new survey.

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CPE Webcast: Fireside chat: Transitioning compliance technology solutions

2022-06-29T14:00:00+01:00Provided by

Chief compliance officers and their teams are under increasing pressure to evaluate and choose the right technology partner to meet their growing compliance needs in the face of potential changes to their costs, solutions, and platforms.

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Experts: How to move forward with the GDPR

2022-06-27T12:49:00+01:00By

Data privacy experts speaking at an industry event believe the mechanisms in place under the General Data Protection Regulation to ensure compliance, enforcement, and redress need revisiting—and quickly.

Phone apps

Addressing fraud via social media

2022-06-14T10:38:00+01:00By Jon Prentice, International Compliance Association

Fraud and social media have a special relationship, with the two frequently combining to cause harm, distress, and loss to an enormous number of people.

CW2022 Leadership Panel

Compliance leadership panel: Current state, future trends, more

2022-05-31T11:51:00+01:00By

Four senior compliance practitioners shared their insights on maintaining an ethical culture, embracing data analytics, determining compliance’s role in measuring ESG metrics, and more as part of a panel discussion at Compliance Week’s National Conference.

Risk reward

Factors to consider when implementing risk assessment technology

2022-05-26T16:43:00+01:00By Holly Thomas-Wrightson, International Compliance Association

With the growing demands of huge data sets, an everchanging regulatory landscape, and constantly evolving typologies, the challenge of assessing, documenting, and managing financial crime risk has never been greater.

GDPR gears

Four years of GDPR: New tech testing data privacy law’s longevity?

2022-05-25T15:52:00+01:00By

It has been four years since the European Union’s flagship data privacy legislation came into force, but concerns are already being raised about whether the General Data Protection Regulation is being outpaced by technological developments and their use of data.

Wells Fargo bank

Wells Fargo unit fined $7M for AML transaction monitoring failures

2022-05-20T18:26:00+01:00By

For the second time in five years, a subsidiary of Wells Fargo has been charged by the Securities and Exchange Commission with failing to file suspicious activity reports in a timely manner due to deficiencies in the system it used to flag transactions.

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CPE Webcast: Data: The ‘new gold’ or ‘new liability’?

2022-04-26T14:00:00+01:00Provided by

If organizations can wrest new insights from the data they harvest and process it can be a valuable business asset, but it has some serious limitations and can become a huge liability if they aren’t ensuring they are protecting the data.

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CPE Webcast: Using data to identify training opportunities with Apex Systems

2022-04-12T14:00:00+01:00Provided by

Gaps in an organization’s compliance program can be risky. Closing these gaps is essential to help minimize the possibility of costly investigations, fines, and reputational damage.

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e-Book: How technology enables data protection

2022-03-31T13:00:00+01:00Provided by BRYTER

A Compliance Week and BRYTER survey analyzed 81 responses from compliance and legal practitioners who ranked data privacy and cybersecurity threats the No. 1 biggest risk entering 2022.

Data lock

Closing the data risk gap: How technology enables data protection

2022-03-31T13:00:00+01:00By

Legal and compliance teams ranked data privacy and cybersecurity threats the No. 1 biggest risk entering 2022. Further survey results reveal roadblocks to organizations’ proactive compliance.

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Clearview AI fined $22M in Italy over unlawful data collection

2022-03-10T19:00:00+00:00By

Facial image aggregator Clearview AI was fined €20 million (U.S. $22 million) for unlawfully processing the biometric and geolocation data of Italian citizens in violation of privacy laws including the General Data Protection Regulation.

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CPE Webcast: Firm foundation for constant change: Automating compliance in financial services

2022-03-10T14:00:00+00:00Provided by

Join this webinar and explore data and automation strategies to help you protect sensitive information and report accurately.

Allison Herren Lee and Hester Peirce

Top 10 reasons to attend Compliance Week 2022

2022-03-09T18:12:00+00:00By

A keynote with two SEC commissioners; interactive sessions on global sanctions, ESG, and ethical leadership; and a new conference location and format highlight Dave Lefort’s list of reasons to be excited for CW’s first in-person event in nearly three years.

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White paper: How technology can power proactive risk management

2022-02-25T08:36:00+00:00Provided by

Money laundering, cybercrime, corruption, trafficking: These are just a few of the many illegal activities that could be putting your business at risk, especially if you’re using outdated, manual processes.

Cyber Risk employee monitoring

​Transparency key to navigating modern employee monitoring risk landscape

2022-02-15T17:26:00+00:00By

The opening session of Compliance Week’s virtual Cyber Risk & Data Privacy Summit addressed the challenges of using technology to monitor employees while considering regulatory and ethical risks.

Motorola

Indictment: China-based Hytera stole trade secrets from Motorola

2022-02-08T21:20:00+00:00By

Hytera Communications allegedly conducted a scheme to systematically steal trade secrets from Motorola Solutions by hiring away Motorola employees who had developed its “walkie-talkie” product line, according to a federal indictment.

Ransomware Epilogue

Epilogue: What happened to Betsy?

2022-02-03T13:00:00+00:00By

The “patient zero” of fictional private utility company Vulnerable Electric’s ransomware crisis learns her fate.

Ransomware Chapter 4

Chapter 4: Recovery and lessons learned post-ransomware attack

2022-02-03T13:00:00+00:00By

Whether fictional private utility company Vulnerable Electric pays the ransom or not in the aftermath of its cyber incident, the two pathways quickly splinter off in different directions with varied endings, each with important lessons to be learned.

Ransomware Glossary

Ransomware case study glossary

2022-02-02T13:00:00+00:00By

The field of cybersecurity features a growing list of terminology to describe the many forms, channels, and motivations behind cyberattacks and hacking culture. Learn further definitions for some key terms featured throughout the ransomware case study.

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Chapter 3: Ransomware eradication prompts tough choice: To pay or not to pay?

2022-02-02T13:00:00+00:00By

No matter what, the deck is stacked against fictional private utility company Vulnerable Electric as it weighs whether to pay the $5 million ransom demanded by a cybercriminal who breached its systems. Which path do you take?

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Chapter 2, Part 2: Ransomware damage control and when to alert stakeholders

2022-02-01T13:00:00+00:00By

Systems at fictional private utility company Vulnerable Electric remain impacted in the aftermath of a ransomware attack, but the chief executive decides it’s time to be forthright with employees and customers.

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Chapter 2, Part 1: Containment key to ransomware defense

2022-02-01T13:00:00+00:00By

With Day 2 of fictional private utility company Vulnerable Electric’s ransomware crisis comes the need to grasp the extent of its situation. The cyber incident response team’s synchronized efforts are pivotal as time is of the essence.

Data money

Survey: Privacy budgets rise as businesses see consistent ROI

2022-02-01T12:57:00+00:00By

Companies believe effective privacy management improves trust, transparency, and provides a return on investment, according to the latest benchmark study by technology vendor Cisco.

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Chapter 1, Part 2: All hands on deck in C-suite ransomware response

2022-01-31T13:00:00+00:00By

Following the events that triggered a double extortion ransomware attack, the CEO of fictional private utility company Vulnerable Electric mobilizes her cyber incident response team to begin assessing the path forward to dealing with the cybercriminal(s).

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Chapter 1, Part 1: Betsy’s human error triggers ransomware crisis

2022-01-31T13:00:00+00:00By

When one of fictional private utility company Vulnerable Electric’s most dedicated employees falls victim to a social engineering hack, her actions in the immediate aftermath are crucial to what will soon become a crisis for the C-suite.

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CW case study offers 360-degree view of ransomware attack

2022-01-31T13:00:00+00:00By

Learn through the eyes of the C-suite at Vulnerable Electric, a fictional private utility company impacted by a significant ransomware attack, as part of Compliance Week’s third case study.

Tom Seidenstein

Q&A: IAASB head on audit's role in combating fraud, ESG, new technologies, more

2022-01-27T18:18:00+00:00By

IAASB Chair Tom Seidenstein discusses with Compliance Week the organization’s current and future efforts to improve audit quality, the biggest challenges to audit confidence today, and what emerging issues might be around the corner.

AuditCovid

How Covid-19 has redefined the seamless audit process

2022-01-24T19:00:00+00:00By

The pandemic has forced companies to make significant changes to their internal audit processes and how they prepare for external auditors to review their financials. A recent CW webcast sponsored by BlackLine explored how technology can help meet these new challenges.

2022

NAVEX: Top 10 risk and compliance trends for 2022

2022-01-20T19:15:00+00:00By

Diversity, equity, and inclusion; prioritizing ESG; business continuity; and more highlight the latest edition of NAVEX’s annual list of risk and compliance trends worth monitoring.

LockHoleNetwork

Accellion to pay $8.1M in proposed data breach settlement

2022-01-14T19:16:00+00:00By

The Accellion data breach that last year affected a variety of private- and public-sector organizations and compromised the personal data of millions of individuals could be resolved in an $8.1 million class-action settlement.

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DiMauro: Seven compliance areas to watch in 2022

2021-12-29T17:26:00+00:00By

If 2021 was about transition under the Biden administration, 2022 is looking as if it will be a year of action. CW Director of Compliance Programs & Training Julie DiMauro shares her list of key areas she expects to receive enhanced scrutiny in the year ahead.

Nikola

Nikola to pay $125M to settle SEC fraud charges

2021-12-21T18:43:00+00:00By

Electric semitruck startup Nikola agreed to pay $125 million to settle charges brought by the SEC for defrauding investors by misleading them about its products, technical advancements, and commercial prospects.

JPMorgan Chase

SEC, CFTC fine JPMorgan Chase $200M for recordkeeping violations

2021-12-17T17:01:00+00:00By

JPMorgan Chase will pay $200 million in fines to settle charges brought by two federal regulators regarding the bank’s failure to maintain records of communications on securities, commodities, and swaps business matters made on bank employees’ personal devices.

Nirvana Patel

CCO Q&A: How Prime Trust is managing compliance in evolving crypto space

2021-12-15T13:00:00+00:00By

Compliance Week discusses with Nirvana Patel, chief compliance officer and BSA officer at Prime Trust, the unique challenges of practicing compliance in the cryptocurrency industry and his thoughts on the regulatory landscape moving forward.

Fintech

Risk and compliance considerations for fintech startups and their bank relationships

2021-12-14T13:00:00+00:00By

Fintech startups are typically free to enjoy rapid growth without the burden of strict regulatory oversight. But as scrutiny over the industry grows, so does the urgency for fintechs to get their compliance house in order.

Societe Generale

Societe Generale CEO to assume oversight of risk and compliance

2021-12-13T16:34:00+00:00By

The CEO of Société Générale will assume direct supervision of the risk and compliance control functions at the French multinational investment bank following the completion of remediation programs in line with two U.S. deferred prosecution agreements.

Clearview AI

Clearview AI facing $22.6M fine over U.K. privacy violations

2021-11-30T20:29:00+00:00By

The U.K. Information Commissioner’s Office has warned Clearview AI it could face a £17 million (U.S. $22.6 million) fine over its use of people’s data to power its facial recognition software.

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CPE Webcast: Communications intelligence: Shifting mindset to business transformation

2021-11-30T14:00:00+00:00Provided by Smarsh

The significant transformation of hybrid work has forced a lot of chief compliance officers to start to think about ways they can better manage their digital communication tools and channels.

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CWE panel: GDPR ‘the start of a culture of data protection’

2021-11-15T21:50:00+00:00By

Belgian Data Protection Authority head David Stevens and Member of European Parliament Axel Voss discussed ways the General Data Protection Regulation could be improved for the future during a keynote at CW’s virtual Europe event.

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CPE Webcast: Data awareness to data intelligence: Leveraging the power of automation

2021-11-11T14:00:00+00:00Provided by

The increasing number and complexity of privacy laws and continued emergence of compliant data use as a competitive differentiator have been the driving force for organizations to shift focus from tick-the-box compliance exercises to automated privacy solutions.

Options Technology appoints chief risk officer

2021-10-19T17:32:00+01:00By CW Staff

Managed trading infrastructure provider Options Technology announced the appointment of Marlena Efstratopoulou as chief risk officer.

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SEC investor advocate: ‘Gamification’ exposes holes in Reg BI

2021-10-14T16:16:00+01:00By

SEC Investor Advocate Rick Fleming said online platforms designed to make stock trading more easily accessible and exciting “expose what may be a significant flaw in Reg BI” regarding unsolicited transactions.

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CPE Webcast: Technology best practices to future-proof your regulatory compliance strategy

2021-10-12T11:00:00+01:00Provided by

Organizations are facing both increased regulation and increased volumes of organizational data, making it ever more challenging to ensure they can stay compliant as new regulations take effect.

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CPE Webcast: The compliance officer’s guide to cloud adoption

2021-09-28T14:00:00+01:00Provided by

Many companies are accelerating their digital transformation strategies and adoption of cloud computing, decommissioning data centers, and legacy applications. CCOs need to understand the implications for regulatory compliance obligations.

Data future

KPIs and collaboration: How Vivint, Agilent handle data collection

2021-09-27T17:09:00+01:00By

Compliance leaders from Vivint and Agilent Technologies shared how they are successfully integrating data intelligence into their organization’s operations at a recent Diligent virtual summit.

MUFG

OCC raps MUFG Union Bank for risk management deficiencies

2021-09-21T16:39:00+01:00By

MUFG Union Bank, which has entered into agreement to be acquired by U.S. Bank, received a cease-and-desist order from the OCC for “unsafe or unsound practices regarding technology and operational risk management.”

Coinbase

With approach to Coinbase, SEC shows its hand on cryptocurrency

2021-09-21T13:37:00+01:00By

By reacting to Coinbase’s now-scrapped Lend program proposal with a Wells Notice, the SEC sent a message that cryptocurrency companies should not expect the agency to bend to their will.

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CPE Webcast: Business spend monitoring: Do trends speak louder than machine learning and AI?

2021-09-16T11:00:00+01:00Provided by

As parts of the world economy open up and overall business spend is on track to go back to pre-COVID-19 levels, organizations are more vulnerable to fraud, corruption, and regulatory violations.