Login | Join | Contact Us
Facebook is modern-day East India Company, whistleblower says
Danske Chairman to Step Down After Money-Laundering Scandal
Estonian financial watchdog proposes money laundering prevention measures
Sexual harassment cases at the SABC swept under the carpet – commission
Hong Kong privacy watchdog to investigate Cathay Pacific over massive data breach
CEOs Behind Bars? Proposed U.S. Data Privacy Bill Could Put Them There
Goldman Sachs former investment bankers Tim Leissner and Roger Ng charged in $4 billion Malaysian funding scheme
Complete Compliance and Ethics Manual
International Compliance 101, 2nd Edition
on Nov. 6, The Irish Times reported, “Speaking six months after revealing details of Cambridge Analytica tactics, [Christopher Wylie] said he was shocked at how little knowledge regulators had around technology. ‘My journey as a whistleblower has also been a journey in experiencing institutional failure,’ he said.
On Nov. 6, Bloomberg reported, “The main shareholder in Danske Bank A/S just made clear it won’t stand by and watch the chairman muddle through the lender’s biggest crisis in a century. As Danske finds itself at the center of one of Europe’s worst ever money laundering scandals, A.P. Moller Holding A/S used its roughly 20 percent stake in the bank to force Chairman Ole Andersen out.”
On Nov. 6, ERR News reported, “Estonia is the first country in the euro area where a bank has been stripped of its activity license at the request of a financial supervision authority for breaking anti-money laundering rules, Chairman of the Board of the Financial Supervision Authority (FSA) Kilvar Kessler said at a debate in the Riigikogu about the prevention of money laundering on Tuesday. … The conducting of risk reviews falls under the scope of the FSA. This means that, from the FSA's point of view, it is problematic if a business related to nonresidents and its risk review are unbalanced, and if reviews are weak and succumb to taken risks. The FSA's task in preventing money laundering is to analyse whether banks' risk reviews are in accordance with a particular bank's business strategy.”
On Nov. 6, News24 (South Africa) reported, “[The South African Broadcasting Corporation (SABC)] does not take sexual harassment seriously and needs to develop a culture that embraces the enhancement of human rights and gender rights. These are just some of the recommendations made by an independent commission of inquiry looking into allegations of sexual harassment at the public broadcaster. The commission found that the SABC was complicit in some cases, accusing the broadcaster of being oblivious to infringements of its sexual harassment policies. The commission chaired by Barbara Watson revealed that that the public broadcaster's sexual harassment policies did not meet international standards, and needed to be reviewed.”
On Nov. 6, Reuters reported, “Hong Kong's privacy commissioner will launch a compliance investigation into Cathay Pacific Airways over a data breach involving 9.4 million passengers, saying the carrier may have violated privacy rules. The airline has faced criticism for the seven-month delay in its October revelation of the breach in the data, which it said had been accessed without authorization, following suspicious activity in its network in March.”
On Nov. 6, Channel Partners reported, “The Consumer Data Protection Act would allow consumers to control the sale and sharing of their data, and gives the Federal Trade Commission (FTC) the authority to police data privacy. U.S. Sen. Ron Wyden, D-Oregon, released a ‘discussion draft’ of the legislation, which has’t yet been introduced for consideration. … The bill would give the FTC the authority to establish minimum privacy and cybersecurity standards, issue fines as much as 4 percent of annual revenue on the first offense for companies, and 10-20 year criminal penalties for senior executives.”
On Nov. 1, ABC News reported, “Two former Goldman Sachs investment bankers were charged Thursday with helping to raise money for a Malaysian investment fund that has lost $4 billion, according to federal prosecutors. Tim Leissner, 48, and Roger Ng, 51, were charged in a three-count criminal indictment in Brooklyn federal court Thursday. Leissner pleaded guilty to conspiring to launder money and to violate the Foreign Corrupt Practices Act. He will forfeit $43.7 million as a ‘result of his crimes,’ officials said.”
Get discounts on events and products! Learn more about the benefits of an SCCE membership.
To ensure they see the same great content you do, attach CCWN to an email instead of forwarding.
Do you want to receive the latest corporate compliance world news, too? Subscribe! It’s quick and free!
Please feel free to contact the Corporate Compliance Weekly Newsletter editor, Margaret Martyr.
To View the full content on this page you might have to login to your SCCE account. If you do not already have a login and password you can create one for free.
If you have a login click here
To create a login click here
Become a member
Past Web Conference CDs
Post a Job
Post an Internship
6500 Barrie Rd., Ste. 250
Minneapolis, MN 55435
Phone: (952) 933-4977 (888) 277.4977
Fax: (952) 988-0146