Technology


Cloud

Big Tech, banking policymakers clash over cloud computing

2019-10-18T20:47:00+01:00By

The “move fast and break things” mantra of the tech world rubs up against a more rigid banking industry as the two find their way in the cloud—but is more legislation really necessary?

HangUpGloves

EC uses ‘interim measures’ on Broadcom to curb anticompetitive behavior

2019-10-18T18:31:00+01:00By

The European Commission has ordered Broadcom to cut out harsh contract terms with six TV and modem manufacturers because they may infringe antitrust rules. It’s the first time the agency has imposed “interim measures” in 18 years

DataBridge

NIST provides guidance on how to bridge privacy, cyber-security processes

2019-10-18T16:11:00+01:00By

NIST’s new Privacy Framework offers much-needed guidance to help companies align their data privacy and cyber-security risk management practices.

2nd Annual APAC Conference took place in Singapore on 16-17 October

Singapore regulator: Technology creates both challenges, opportunities

2019-10-16T13:22:00+01:00By Compliance Week

The evolution of technology is enabling myriad capabilities for regulatory and financial crime compliance, but it is also presenting complex financial crime risks, according to a representative from the Monetary Authority of Singapore (MAS) at the International Compliance Association’s second Asia Pacific (APAC) conference this week in Singapore.

Sinking ship

Libra springs a leak: Visa, Mastercard, others bail

2019-10-15T14:36:00+01:00By

Visa, Mastercard, and a handful of other companies have followed in the footsteps of PayPal, abandoning the Facebook-led Libra Association amid harsh regulatory criticism surrounding the planned cryptocurrency offering.

BitcoinFlick

SEC Bitwise Bitcoin ETF rejection may signal end to cryptocurrency trades

2019-10-11T19:09:00+01:00By

In a 112-page order, the SEC argued against allowing shares of the Bitwise Bitcoin exchange traded fund to be listed or traded because of the likelihood of financial crime surrounding the cryptocurrency.

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White paper: Best practices for Audio Recording Supervision

2019-10-10T03:09:00+01:00Provided by

Best practices for using AI & ML to enhance audio recording supervision programs.

Zuckerberg

Zuckerberg to testify before Congress on Libra

2019-10-09T17:17:00+01:00By

Facebook CEO Mark Zuckerberg will testify before the House Financial Services Committee on Oct. 23 regarding his company’s planned venture into the cryptocurrency space.

askamii

Ask Amii mailbag: Keeping up with AI, global compliance norms

2019-10-09T14:59:00+01:00By

In this “Ask Amii” monthly mailbag, executive coach and former Chief Compliance Officer Amii Barnard-Bahn explores the future of compliance and best practices for establishing your program in a non-U.S. domain.

Libra

Libra Association soldiers on after PayPal withdraws

2019-10-08T21:33:00+01:00By

PayPal leaving Facebook’s Libra project is just a bump in the road in the drive toward developing a global digital currency payments network, a Libra Association spokesperson says.

CCPA

CCPA compliance costs projected to reach $55B

2019-10-08T16:40:00+01:00By

An economic impact assessment of California’s upcoming privacy law forecasts short-term disadvantages for smaller companies and emerging markets around compliance solutions and data-based product initiatives.

AIdata

Survey: Compliance execs like AI, but not confident they can harness it

2019-10-02T19:45:00+01:00By

Compliance and procurement leaders see the value in using artificial intelligence, but far too many aren’t confident they have the right skills in place to use it, according to a new report from Dun & Bradstreet.

Blockchain

Blockchain company to pay $24M for unregistered ICO

2019-10-02T18:09:00+01:00By

Block.one has agreed to settle charges with the SEC and pay a $24 million civil penalty for conducting an unregistered initial coin offering of digital tokens that raised the equivalent of several billion dollars.

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White paper: Internal Controls Over Financial Reporting Considerations for Developing and Implementing Bots

2019-09-30T02:22:00+01:00Provided by

Companies are rapidly digitalizing parts of their business through robotic process automation (RPA). RPA uses computer-coded, rules-based software robots (i.e., bots) to automate certain human tasks.

Microsoft

How Microsoft turned one practitioner into a versatile analytics guru

2019-09-24T19:21:00+01:00By Alan Gibson

Guest columnist Alan Gibson explains how his role as assistant general counsel in Microsoft’s Office of Legal Compliance helped his transition into a world of managing risks through algorithms, machine learning, and digital solutions.

Facebook

Facebook suspends apps over privacy concerns

2019-09-23T20:20:00+01:00By

Facebook announced it has suspended “tens of thousands” of apps as part of an investigation launched in the aftermath of last year’s Cambridge Analytica scandal.

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White paper: Taming third-party risk with digital

2019-09-23T16:38:00+01:00Provided by

Damaging headlines like this have grown steadily in recent years. Triggered by third parties – such as suppliers, joint-venture partners, and contractors – and exacerbated by longer, more complex supply chains, compliance failures are becoming commonplace. Especially as regulators extend their reach. Building a sustainable framework for third-party risk using ...

Nov12

Nov. 12 | Business process outsourcing for compliance

2019-09-21T17:08:00+01:00Provided by

Webcast details: November 12, 2019 – 2 p.m. ET   |  CPE Credit(s): 1

Zuckerberg

Facebook’s Zuckerberg schmoozes with Trump, lawmakers

2019-09-20T16:26:00+01:00By

Facebook CEO Mark Zuckerberg met with about a half dozen senators at a dinner this week before visiting the White House to meet with President Trump. The key focus of the visit: discussing the future of internet regulation.

Computer survey

Survey: How are you choosing and using compliance technology?

2019-09-19T20:38:00+01:00By Compliance Week

Compliance Week is conducting its second annual survey of compliance professionals to find out the challenges faced in selecting the right technology solutions.

FTC

FTC prioritizes guidance on application of antitrust laws to Big Tech

2019-09-13T19:36:00+01:00By

The Federal Trade Commission’s Office of Policy Planning is making the identification of Big Tech companies’ anticompetitive behavior and how to remedy it a top priority.

Googlecrop

Google to pay $1B to resolve French tax disputes

2019-09-13T16:31:00+01:00By

Google will pay $1 billion in penalties and back taxes, putting to an end a pair of investigations in France into whether the tech giant properly declared the full extent of its activities in the country.

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Amazon's Bezos among 51 CEOs calling for national data privacy law

2019-09-10T18:43:00+01:00By

CEOs from 51 different companies, including Amazon, Walmart, and Salesforce, have sent a letter to congressional leaders urging the passing of a comprehensive consumer data privacy law.

Google

Google facing antitrust investigation by 50 attorneys general

2019-09-09T20:15:00+01:00By

Texas Attorney General Ken Paxton confirmed Monday that his office is leading an investigation by 50 attorneys general into technology giant Google for potential monopolistic business practices.

Facebook

Facebook faces multistate investigation for possible antitrust violations

2019-09-06T15:34:00+01:00By

The New York Attorney General’s office is leading a multistate investigation into social media giant Facebook for potential antitrust issues.

European Commission

European Commission still gunning for Big Tech

2019-09-06T14:06:00+01:00By

Coming on the heels of big enforcement actions against Google, Apple, Facebook, and Amazon, the European Commission is vowing to keep fighting against technology giants profiting at others’ expense.

TechMigration

Migration to new SOX technology picks up pace, report says

2019-09-05T17:00:00+01:00By

Amid persistent cost and compliance challenges with internal controls, the pace of migration toward new accounting technologies appears to be picking up.

Children, YouTube

Google, YouTube reach $170M ‘groundbreaking’ settlement for violating children’s privacy

2019-09-04T15:43:00+01:00By

Google and its subsidiary YouTube will pay $170 million to settle allegations that the video-sharing service illegally collected personal information from children without their parents’ consent.

Blockchain

FINMA publishes AML guidance on blockchain

2019-09-03T15:24:00+01:00By

The Swiss Financial Market Supervisory Authority has published new guidance on how it applies AML rules to the financial services providers it supervises in the area of blockchain technology.

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White paper: Essential transcription dos and don’ts for your audio recording review program

2019-08-29T01:33:00+01:00Provided by

Transcription is merely a starting point for call recording review and even the voice portion video recording review.. That said, voice-to-text technologies and even search tools built for transcripts still haven’t met both of the distinct last-mile-needs around using transcripts for compliance.

Microsoft

Microsoft facing GDPR probe in Ireland

2019-08-28T15:57:00+01:00By

The Dutch Data Protection Agency has referred Microsoft to its home EU regulator in Ireland regarding new privacy concerns with its Windows 10 operating system.

FacialRecognition

ICO investigating facial recognition technology in key London district

2019-08-19T17:37:00+01:00By

Concerns abound over whether or not using facial recognition technology violates consumer privacy.

Facial recognition

Facebook loses appeal, faces costly privacy class action

2019-08-12T16:34:00+01:00By

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.

Libra global

Facebook, Libra questioned by global data leaders

2019-08-06T18:03:00+01:00By

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

Cisco’s $8.6M settlement for security flaws has broader ramifications

2019-08-02T17:15:00+01:00By

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.

Libra

Facebook concedes Libra currency might never launch

2019-07-31T20:26:00+01:00By

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.”

Blockchain

Blockchain: The new frontier for supply chain risk management

2019-07-29T18:59:00+01:00By

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.

David vs. Goliath

AG Barr rides Facebook woes to tout antitrust review of Big Tech

2019-07-25T18:57:00+01:00By

As tech companies grow to dominance, do they pose a competitive hardship to rivals left in their wake? The Justice Department wants to know.

columnist icons2

Facebook settlement was barely worth waiting for

2019-07-24T21:01:00+01:00By

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.

Zuck privacy

The Facebook Effect: ‘Price of privacy violations just went up’

2019-07-24T20:16:00+01:00By

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.

Facebook

Facebook to pay $100M for misleading disclosures

2019-07-24T19:46:00+01:00By

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.

Barr

DOJ launches antitrust probe into Big Tech

2019-07-24T15:10:00+01:00By

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

Microsoft to pay $25M in FCPA case

2019-07-23T14:01:00+01:00By

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.

Europedata

What we can learn from the biggest GDPR fines so far

2019-07-19T18:38:00+01:00By

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.

IrelandDataPrivacy

All eyes on how Ireland will handle Big Tech and GDPR

2019-07-19T18:38:00+01:00By

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.

EU data flag

GDPR enforcement varies widely by country

2019-07-19T18:38:00+01:00By

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.

Qualcomm

Qualcomm fined $271M for predatory pricing

2019-07-18T15:47:00+01:00By

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.

Antitrust debate

Congress debates: Are tech giants bullies or saviors?

2019-07-17T21:24:00+01:00By

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.

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Google, Amazon fire back: Rising tide lifts all boats

2019-07-17T21:19:00+01:00By

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.

Amazon

EU investigating Amazon over antitrust concerns

2019-07-17T16:34:00+01:00By

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.