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?
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
NIST’s new Privacy Framework offers much-needed guidance to help companies align their data privacy and cyber-security risk management practices.
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.
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.
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.
Best practices for using AI & ML to enhance audio recording supervision programs.
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.
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.
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.
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.
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.
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.
White paper: Internal Controls Over Financial Reporting Considerations for Developing and Implementing Bots
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.
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 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.
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 ...
Webcast details: November 12, 2019 – 2 p.m. ET | CPE Credit(s): 1
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.
Compliance Week is conducting its second annual survey of compliance professionals to find out the challenges faced in selecting the right technology solutions.
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.
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.
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.
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.
The New York Attorney General’s office is leading a multistate investigation into social media giant Facebook for potential antitrust issues.
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.
Amid persistent cost and compliance challenges with internal controls, the pace of migration toward new accounting technologies appears to be picking up.
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.
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.
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.
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.
Concerns abound over whether or not using facial recognition technology violates consumer privacy.
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.
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.