Technology


Technology

Embracing the potential of tech in legal, compliance

2020-03-25T17:44:00+00:00By Lee O’Connell, Konexo

The pace of technological change can be overwhelming, and in-house legal and compliance teams are yet to lead the charge. This needs to change if businesses are to secure the potential competitive advantages offered by new tech.

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Conference organizers innovate online as coronavirus cancels live events

2020-03-20T20:02:00+00:00By

While the convention industry is taking a huge financial hit during the coronavirus outbreak, it’s also being forced to innovate.

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Ask Amii mailbag: How to push for greater say at your company

2020-03-19T16:05:00+00:00By

The latest edition of the Ask Amii mailbag provides guidance on getting compliance more involved in conversations with key decision makers. Amii also gives her thoughts on when the time is right to change careers.

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Webcast: Can KYC compliance and customer experience coexist?

2020-03-19T14:10:00+00:00Provided by

Remaining competitive in the modern financial world requires staying ahead of increasingly sophisticated financial crimes and fluid regulations across multiple jurisdictions.

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Elon Musk’s response disappointing amid coronavirus chaos

2020-03-18T17:09:00+00:00By

Tesla CEO Elon Musk believes coronavirus panic is more harmful than the virus itself, but he’s done little to provide help in any form despite having the platform to do so.

PhoneInvestigator

Benefits of tele-investigating in the time of coronavirus

2020-03-16T14:28:00+00:00By

The financial and operational implications of COVID-19 for businesses are vast and damaging. One area of business impacted is internal investigations. Here’s why tele-investigating isn’t all bad.

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Lawsuit: Former iRobot compliance head alleges firing over flagged dealings

2020-03-13T16:00:00+00:00By

The former director of compliance for iRobot—maker of the robot vacuum cleaner Roomba—claims in a federal lawsuit he was fired for pointing out the company’s violations of state, federal, and international law.

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Employees working from home to avoid coronavirus? Protect your data

2020-03-12T19:54:00+00:00By

With the coronavirus threat having moved on from disrupting your business’s supply chain to threatening your employees’ health at home, now is the time to implement that company-wide remote workplace plan.

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Swedish watchdog fines Google $7.6M for GDPR non-compliance

2020-03-12T19:02:00+00:00By

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).

Virgin Media

​Virgin Media could face GDPR pressure after data breach

2020-03-06T17:54:00+00:00By

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.

Health records

GoodRx’s mea culpa: Lessons for internet companies handling personal health data

2020-03-04T21:11:00+00:00By

Telemedicine platform GoodRx has committed to enhancements of its consumer data protection after Consumer Reports called out its sharing practices regarding personal health information.

Facial recognition

Controversial facial image aggregator Clearview AI reveals breach

2020-02-27T20:03:00+00:00By

A company with a huge database of facial images informed its law enforcement customers this week that it suffered a data breach.

FinTech

CCO Q&A: Managing compliance in the FinTech space

2020-02-26T15:35:00+00:00By

Compliance Week discusses with Shannon Duncan, CCO and director of operations at registered investment adviser Blooom, the many unique challenges of doing compliance in the complex, ever-evolving FinTech space.

Data sharing

Proposed EU data strategy spells big changes for Big Tech

2020-02-21T18:56:00+00:00By

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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Resurgent BIPA more than second fiddle to CCPA?

2020-02-21T16:36:00+00:00By

The California Consumer Privacy Act seems to be in the spotlight lately, but the Illinois Biometric Information Privacy Act should not be overlooked.

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DOJ indictment alleges Huawei fraud, trade secrets theft

2020-02-13T21:12:00+00:00By

The Department of Justice unveiled a fresh round of allegations against Chinese tech giant Huawei, including racketeering, theft of trade secrets, and bank fraud.

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Google begins argument to try to overturn $9B in EU fines

2020-02-12T21:51:00+00:00By

Attorneys for Google, seeking to overturn $9 billion in EU antitrust fines, argued in a European court Wednesday that the tech giant should not be forced to prop up its competitors in the course of promoting facets of its own business.

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Four game-changing innovations in compliance training

2020-02-12T11:44:00+00:00By

Looking to transform your training program? Take a cue from those who are using leading-edge tech and outside-the-box thinking in the space.

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FTC turns up antitrust heat on Big Tech

2020-02-11T20:02:00+00:00By

The FTC will require the top five U.S. technology firms—Alphabet Inc. (Google), Amazon, Apple, Facebook, and Microsoft—to provide information on acquisitions not previously reported to the agency dating back 10 years.

Chinese hackers

Equifax indictment and the making of a Chinese cyber-attack

2020-02-10T19:21:00+00:00By

The DOJ announced four members of the Chinese military have been indicted on charges of hacking into the computer systems of Equifax, ultimately resulting in the largest-ever breach of consumer data. From an ERM standpoint, the indictment offers an inside look at the making of a Chinese cyber-attack.

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NIST seeks comment on ransomware, cyber-attack guidance

2020-02-07T17:07:00+00:00By

The National Institute of Standards and Technology is seeking input on a trio of draft guidance published in the past week. Two of the drafts address ransomware attacks, and the third addresses protecting against cyber-attacks in the supply chain.

Google ads

Report: DOJ zeroes in on Google’s ad brokerage business

2020-02-05T21:45:00+00:00By

The DOJ’s scrutiny of Google’s online ad business reflects growing concerns over the tech giant’s potentially anticompetitive behavior, prompts the reclusion of an antitrust enforcement official from the probe, and points to closer coordination between federal and state authorities.

Salesforce

CCPA cited in Hanna Andersson/Salesforce breach lawsuit

2020-02-05T18:27:00+00:00By

A lawsuit filed against online retailer Hanna Andersson and its e-commerce platform Salesforce is among the first to cite the fledgling California Consumer Privacy Act in its judgment sought.

Libra

​Mastercard CEO lists Libra red flags as reason for exit

2020-02-05T16:49:00+00:00By

Mastercard CEO Ajay Banga cites concerns with compliance, data management, and making money within regulatory constraints among the reasons his company left the Facebook-led Libra Association late last year.

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First four ‘Excellence in Compliance Awards’ finalists revealed

2020-02-04T17:19:00+00:00By

Compliance Week is proud to announce its first four finalists for the “Excellence in Compliance Awards,” a newly formed program that recognizes individual achievement in one of 13 categories relating to risk and compliance.

Facebook

Facebook reveals $550M settlement for Illinois privacy lawsuit

2020-01-30T20:10:00+00:00By

Facebook has reached a $550 million settlement in principle in connection with a class-action lawsuit it faced in Illinois over violations of a state biometric law.

Microsoft

Microsoft data leak points to industry-wide security vulnerabilities

2020-01-24T15:41:00+00:00By

Microsoft made headlines when it was discovered that nearly 250 million customer service and support records were exposed on the Web through several unsecured cloud servers. But that’s only a glimpse into wider cloud-security weaknesses throughout the industry.

FinTech

Six strategies for FinTech adoption in banking

2020-01-23T16:30:00+00:00By Thomas Wan, International Compliance Training Academy

Thomas Wan of the International Compliance Training Academy outlines strategies for navigating the dynamic terrain of FinTech adoption within the banking industry.

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Tip sheet: 2020 priorities for accounting and audit regulators

2020-01-14T15:10:00+00:00By

With the new year under way, we highlight some focus areas of accounting and audit regulators—SEC, PCAOB, and FASB—that should be top of mind for boards of directors.

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May 5 | How proactive governance reduces reactive compliance

2020-01-12T18:48:00+00:00Provided by

Regulations are a constantly evolving landscape and may be overlooked, but ultimately most businesses are always working on other seemingly ‘more important’ matters. However, the more reactive the compliance team finds itself being, the harder it becomes to become proactive and strategic.

AI United States

White House proposes AI regulatory principles to limit government overreach

2020-01-07T22:18:00+00:00By

In sum, federal agencies should reject “rigid, design-based regulations” in favor of flexible approaches to artificial intelligence applications.

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Special report: Compliance 2020

2020-01-06T14:24:00+00:00By

CW Editor in Chief Dave Lefort offers 10 predictions on what will dominate compliance headlines in 2020.

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FASB cloud computing cost standard to soon take effect

2020-01-02T15:35:00+00:00By

An updated cloud computing standard from the Financial Accounting Standards Board will clarify expenses associated with Web hosting arrangements for cloud computing.

CCPA

Survey: CCPA still poses compliance nightmare

2019-12-30T18:18:00+00:00By

With the clock ticking toward the Jan. 1 implementation date, Compliance Week and ACA Aponix asked 100 compliance practitioners whether their company would be CCPA compliant by the deadline. Their collective answer? Nope.

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Apple, Walmart among compliance winners of 2019

2019-12-27T17:13:00+00:00By

Strong social stances, a dedication to doing what’s right, and leading by example highlight the qualities exemplified by our list of ethics and compliance winners of 2019.

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Top ethics and compliance failures of 2019

2019-12-27T17:13:00+00:00By

From antitrust and privacy concerns in the tech world to compliance officer liability in the pharmaceutical industry to unethical practices in the banking and accounting professions, more than a dozen companies made Compliance Week’s list of the biggest compliance fails in 2019.

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Most-trafficked content tells story of the compliance officer

2019-12-23T15:35:00+00:00By

Changes in the interests of our audience over the last several years help us to understand how much compliance officers must evolve in their jobs to meet the demands of a given time.

Data transfers

Top EU advisor: Clauses used for EU-U.S. data transfers ‘valid’

2019-12-23T15:18:00+00:00By

Big Tech can breathe a sigh of a relief that the mechanisms it uses to transfer data outside of the European Union to “third countries” provide sufficient privacy protection, according to a key advisor to the EU’s top court.

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Bill to combat robocalls heads to Trump’s desk

2019-12-19T19:33:00+00:00By

A popular bill intended to crack down on illegal robocalls has passed House and Senate votes with overwhelming majorities and will soon make its way to President Trump’s desk for final approval.

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Companies deserve a break on rushed CCPA compliance

2019-12-19T16:47:00+00:00By

The CCPA has been rushed from the start, says CW Editor in Chief Dave Lefort, who believes the California attorney general’s plan to give leniency for companies making good-faith efforts is the right call.

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Future-proofing the compliance professional

2019-12-16T16:19:00+00:00By Simone Jones, International Compliance Association

There may be many aspects of the future outside our influence, but something we can control is our ability to invest in our knowledge and skills to better prepare us for the opportunities and challenges we may be presented with.

Technology

International banking regulator: Big Tech ‘may pose risks to financial stability’

2019-12-13T18:29:00+00:00By

Big technology firms like Amazon, Facebook, Twitter, and Google are a potential risk if they get more heavily involved in providing financial services, says the Financial Stability Board.

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Drowning in third-party risk? Let us throw you a life jacket

2019-12-06T16:43:00+00:00By

You need help managing your third parties, and over the course of two days in San Francisco, we hope to help you find the answers to the questions that keep TPRM stakeholders up at night.

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Republicans, Democrats spar over federal privacy bill

2019-12-05T18:14:00+00:00By

Republicans and Democrats have differing opinions on the rights and role of a federal privacy law, but both sides agreed at a Senate Commerce Committee hearing Wednesday the time to act is now.

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Technology at center of Clayton-moderated discussion at SEC

2019-12-04T21:56:00+00:00By

“Message received,” SEC Chairman Jay Clayton said as panelists at his discussion on global macroeconomic trends emphasized how technology is affecting markets and why regulators must lead rather than follow.

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ICO draft guidance helps U.K. firms clarify AI choices

2019-12-03T16:34:00+00:00By

The U.K. Information Commissioner’s Office has released guidance that lays out four principles—based on the GDPR—companies must consider when applying AI to their systems.

Excellence in Compliance Awards

Introducing ‘The Excellence in Compliance Awards’

2019-12-02T22:03:00+00:00By

Compliance Week is making some changes to its annual awards for 2020, evolving the “Top Minds” recognition into a full-blown, specifically targeted awards program dubbed “The Excellence in Compliance Awards.”

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Senate Dems propose ‘clear as a bell’ U.S. privacy law

2019-11-27T21:12:00+00:00By

Senate Democrats have proposed a new federal data privacy bill that seeks to empower consumers and support their civil rights in the digital economy.

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e-Book: Special report: Maturing in your compliance technology journey

2019-11-22T11:02:00+00:00

Our second annual special report on compliance and technology addresses the challenges and opportunities posed by the continuing evolution of the compliance function and the advanced tools that both power it and make it infinitely more complex.

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Webcast: Improving efficiency with intelligent compliance

2019-11-21T14:54:00+00:00Provided by

Learn about the skill sets needed for compliance roles to succeed in the future, why security is becoming more important to compliance and supervision infrastructure, and compliance technology developments.