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Uber agrees to $148M settlement with states over data breach - Danske Bank whistleblower was former Baltics trading head: Denmark's Berlingske - Former Hong Kong government official Wilson Fung leaves Airport Authority as bribery trial looms - And More
9/27/2018 9:41:00 AM

 

 

Uber agrees to $148M settlement with states over data breach

On Sept. 26, The Associated Press reported, “Uber will pay $148 million and tighten data security after the ride-hailing company failed for a year to notify drivers that hackers had stolen their personal information, according to a settlement announced Wednesday. Uber Technologies Inc. reached the agreement with all 50 states and the District of Columbia after a massive data breach in 2016. Instead of reporting it, Uber hid evidence of the theft and paid ransom to ensure the data wouldn’t be misused.”

 

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Danske Bank whistleblower was former Baltics trading head: Denmark's Berlingske

On Sept. 26, Reuters reported, “The internal whistleblower who helped reveal alleged money laundering at Danske Bank’s (DANSKE.CO) Estonian branch was Howard Wilkinson, a former head of its trading business in the Baltics, Danish newspaper Berlingske reported on Wednesday. The internal whistleblower who helped reveal alleged money laundering at Danske Bank’s (DANSKE.CO) Estonian branch was Howard Wilkinson, a former head of its trading business in the Baltics, Danish newspaper Berlingske reported on Wednesday.”

 

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Former Hong Kong government official Wilson Fung leaves Airport Authority as bribery trial looms

On Sept. 26, South China Morning Post reported, “A former senior government official facing bribery charges concerning hundreds of thousands of dollars has left the Hong Kong Airport Authority, it was revealed on Tuesday. … Fung, 55, was executive director of the authority’s corporate development branch from August 2010. He was suspended on August 31 this year, when the Independent Commission Against Corruption (ICAC) charged him with bribery and misconduct in public office. The ICAC alleged that in 2014, when he was deputy secretary for economic development and labour, Fung had ‘without lawful authority or reasonable excuse’ accepted HK$510,000 (US$65,300) from Chan Ung-iok, a Macau businesswoman.”

 

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Whistleblower tipped off GAM to director's behavior

On Sept. 25, Reuters reported, “GAM Holding said its decision to suspend a director in charge of absolute return bond funds in July, which triggered an investor exodus and a sharp fall in the company’s shares at the time, was prompted by a tip from an internal whistleblower. GAM, which said on Tuesday no other staff were under investigation, said director Tim Haywood’s potential conduct issues related to failure to conduct sufficient due diligence and failure to make accessible some internal records.”

 

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Register for the Compliance & Ethics Institute | Oct 21-24 in Las Vegas | Learn More >Register for the Compliance & Ethics Institute | Oct 21-24 in Las Vegas | Learn More >

 

Justice Department Meeting Focuses on Privacy and Antitrust Issues of Big Tech

On Sept. 25, Variety reported, “Attorney General Jeff Sessions’ meeting with more than a dozen state officials focused largely on the privacy, data collection, and antitrust issues of tech companies, despite earlier indications that the gathering would address whether platforms were stifling political voices. The meeting on Tuesday, which lasted about an hour, was the latest example of the increasing scrutiny that Google, Facebook, and Amazon are facing from federal and state officials, and the possibility that it will lead to new regulation or litigation.”

 

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Antitrust: Commission sends Statement of Objections to Slovak rail company ZSSK for obstruction during inspection

On Sept. 25, the European Commission reported, “The European Commission has informed Slovak rail company ZSSK of its preliminary view that the company obstructed a Commission inspection by giving incorrect information and deleting data from a laptop. The inspection was part of an antitrust inquiry in the rail passenger transport sector. … The Commission carried out inspections at the ZSSK premises in June 2016. The Commission suspected that ZSSK may have entered into anti-competitive agreements aimed at shutting out competing rail passenger transport operators from the market, in breach of EU antitrust rules (Articles 101 of the Treaty on the Functioning of the European Union).”

 

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Yale Professor Stripped Of Endowed Chair Over Sexual Harrassment

On Sept. 25, WSHU Public Radio reported, “Officials of Yale’s School of Medicine say a professor found guilty of sexual harassment has been stripped of a prestigious endowed chair. The school stripped Michael Simons of the Waldemar Von Zedtwitz chair on Friday after several weeks of protests by faculty and students. Simons was found guilty of sexually harassing a junior faculty member in 2013.”

 

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Big Retailers Issue Dire Warnings on Tariffs

On Sept. 25, The Motley Fool reported, “In a nation that has become sharply divided on some issues, many companies have attempted to stay above the political fray. That makes it especially noteworthy that a group of roughly 300 retailers -- including Target, Walmart, Dollar Tree, Kohl's, Macy's, and Sears -- sent a letter to United States Trade Representative (USTR) Robert Lighthizer opposing President Donald Trump's 10%-25% tariffs on $200 million in imported Chinese goods. The National Retail Federation (NRF) also sent the USTR a letter opposing the recently enacted tariffs. … ‘Millions of U.S. jobs in our industry's global value chains -- including those in research and design, supply chain, manufacturing, compliance, logistics, and retail -- would be put at risk if a new 10% or 25% tax were imposed, due to fewer sales, less investment, and cost increases throughout U.S. supply chains,’ the group wrote.”

 

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Former Malaysia Prime Minister Najib Razak arrested for corruption

On Sept. 19, United Press International, Inc. reported, “Malaysian authorities have arrested former Prime Minister Najib Razak on charges of corruption and money laundering. Najib, who chaired the 1 Malaysia Development Berhad, a state-owned investment firm set up in 2009 at the prime minister's initiative, was arrested in connection to $628 million that was allocated from the fund to his personal account, Channel News Asia reported Thursday.”

 

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Product features

 

Complete Compliance and Ethics Manual

Complete Compliance and Ethics Manual

 

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Ethikos — The Journal of practical business ethics

Ethikos — The Journal of practical business ethics

 

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Articles on the Ethics and Compliance Environment
The Society of Corporate Compliance and Ethics provides this library of articles, insight into current issues, the regulatory environment, and other items of interest to our members.