The ruling of a federal appeals court has Facebook once again at risk of facing fines north of $1 billion for alleged misuse of users’ biometric data.
Data privacy leaders from the United States, United Kingdom, European Union, and Canada are among a group to come together and voice their concerns over Facebook’s planned venture into the cryptocurrency space with Libra.
Cisco has reached an $8.6 million settlement for knowingly selling video surveillance software with critical security vulnerabilities. It’s believed to be the first cyber-security whistleblower case of its kind successfully litigated under the False Claims Act.
Facebook recently acknowledged in a filing with the SEC that there can be no assurance its planned Libra offering “will be made available in a timely manner, or at all.”
A new pilot project currently being explored by the U.S. Food and Drug Administration has enlisted IBM, KPMG, Merck, and Walmart to help determine how to incorporate blockchain into pharmaceutical supply chains.
As tech companies grow to dominance, do they pose a competitive hardship to rivals left in their wake? The Justice Department wants to know.
The compliance aspects of what will be expected of Facebook going forward were fair enough, but a lack of personal liability has us questioning the settlement.
The FTC hit Facebook with a ground-breaking $5 billion penalty for privacy violations, but the bigger takeaway for CCOs is the unprecedented new privacy and corporate governance obligations the company must implement.
In addition to its record-breaking FTC fine, Facebook on Wednesday reached a $100 million settlement with the SEC for making misleading disclosures regarding the risk of misuse of its user data.
The U.S. Department of Justice has opened an antitrust probe into Big Tech firms that are ”engaging in practices that have reduced competition, stifled innovation, or otherwise harmed consumers.”
Microsoft and a subsidiary will pay $25.3 million in combined criminal and civil penalties to resolve the U.S. government’s investigation into violations of the Foreign Corrupt Practices Act.
Recent record-breaking fines for GDPR violations levied on British Airways and Marriott by the U.K. Information Commissioner’s Office offer a glimpse into what GDPR enforcement might look like going forward and serve up a warning to companies that data privacy protocols must be foolproof.
Ireland—home EU regulator to Big Tech firms including Google, Twitter, and Facebook—is the key country not to have issued a GDPR-related fine yet, though the regulator has said it has started at least 19 inquiries into the sector.
Most EU countries have now issued fines under the GDPR. Determining which are the toughest enforcers depends on one’s viewpoint—we lay out country-by-country look at the enforcement trends to date.
The European Commission has fined Qualcomm 242 million Euros (U.S. $271 million) for anti-competitive behavior in violation of EU antitrust rules. Qualcomm says it has done nothing wrong and will appeal the finding.
Amazon, Google, Facebook, and Apple were called before Congress this week to debate what critics perceive as the anti-competitive, entrepreneur-chilling effects they trigger with their size and scope.
A common refrain—and effective defense—from tech companies at the House Judiciary hearing this week was that rather than stifling competition, their size and scope is responsible for a tide that raises all boats in their wake.
Webcast details: September 10, 2019 – 2 p.m. ET | CPE Credit(s): 1
The European Commission is investigating Amazon over concerns that the company’s use of data gathered from independent retailers that sell on its marketplace breaches EU competition rules.
A plan by Facebook to enter the world of virtual currency is attracting predictable skepticism in Washington. It could also expedite the slow emergence of national data protection laws.
The FTC, by dragging its feet and keeping silent on a massive Facebook fine, raises concerns about its potential role as top cop on the data privacy beat.
The social media company is hardly quiet about its crypto initiative, but nevertheless failed to see the materiality of creating a global payments system.
Count Federal Reserve Chairman Jerome Powell and several members of Congress as concerned observers of Facebook’s planned foray into the world of virtual currency.
The price of fraud keeps going up, costing the global economy $41.6 trillion per year. Recognizing the four degrees of fraud is the first step in keeping fraudulent users off your platform.
The CMA, U.K.’s competition watchdog, explores whether a separate regulator is needed to oversee leading digital firms that have become “data monopolies” that stifle competition.
There are 6+ different electronic communications present in video conferencing. MiFID II and SEC 17a-4 have retention and supervision requirements that apply to the audio and electronic communication within video conferences, requiring organizations to develop a compliance plan to govern this growing medium of communication.
Would you give up social media for life in order to guarantee a lifetime of data privacy? According to a study by global cyber-security company Kaspersky, nearly 4 in 10 (38 percent) consumers would.
Bills working through Congress would make it harder for tech companies to profit from consumer data and force them to better secure networked devices.
Many organizations’ enterprise risk management capabilities aren’t as integrated as they need to be, leaving them vulnerable to legal, financial, regulatory, and reputational risks, according to a new GRC benchmark report.
A bipartisan duo of senators has expressed concern that the White House might go easy on Huawei to achieve a favorable outcome on trade negotiations.
Amid growing antitrust scrutiny and data privacy complaints, Facebook is nevertheless expanding into the cryptocurrency space.
The compliance world is changing. Regulations are evolving and new technology addressing compliance challenges are becoming available. From international privacy regulations to new communication channels, how can organizations keep up with those changing regulations and how can they remain nimble.
Is splitting up big tech companies a cure for their outsized influence? Probably not.
Congress and presidential candidates alike are escalating their efforts to thwart the dominance of the tech giants.
While Congress largely remains mired in hearings and pre-election posturing, states are increasingly putting their own scrutiny on large tech companies and their data collection policies.
Social communication is no longer optional—even for businesses. Clients expect to engage with businesses on social media, and the most successful firms are delivering on that expectation. But as your digital presence grows, so does your exposure to risk.
There is a growing realization that data analysis, devoid of psychological and behavioral analysis, might not be as effective as hoped or intended.
The U.K. Institute of Business Ethics is offering a new guide for companies faced with the ethical challenges of artificial intelligence.
Digital transformation is no longer optional. It has become mandatory for businesses to remain relevant and to compete in today’s digital economy. Now more than ever, an integrated approach to governance, risk, and compliance (GRC) is required to provide a wider view of changing organizational risk.
Transparency for all AI-generated decisions is not as important as context, according to new research from U.K. data regulator the Information Commissioner’s Office.
The DOJ has reportedly been laying the groundwork for a Google-focused antitrust investigation in what seems to be the latest signal regulators have the tech giants in their crosshairs.
A panel of CCOs met at Compliance Week’s annual conference to discuss how data and analytics can be used to prevent corruption.
New moves from the Commerce Department suggest a full domestic ban on products from the Chinese telecom giant Huawei are forthcoming.
GT Advanced Technologies is in trouble with the SEC for misleading shareholders about its ability to provide sapphire glass to Apple for its iPhones.
The job of compliance officer has become increasingly dominated by technology and automation. And one under constant pressure from changing regulation globally.
The way we verify our identities is changing. With traditional enterprises evolving and taking their operations fully digital, and newer all-digital businesses are growing exponentially, it makes sense that identity verification and KYC move online too. But in a remote setting, it’s hard for businesses to scale up their user ...
The second proposed data privacy regulation in the nation has failed to come to fruition for the time being.
At the upcoming CW annual conference, an expert panel will examine ways to bring regulators, firms, and innovators together to discuss how to get new ideas to the table faster and how to implement them at the same pace.
Artificial intelligence is transforming the way that companies and regulators alike tackle money-laundering and terrorist financing risk in remarkable and significant ways.
The European Data Protection Supervisor, which is responsible for enforcing and monitoring EU companies’ compliance with data protection rules, said it is has launched an investigation into the compliance of contractual arrangements between EU institutions and Microsoft.