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Nissan probe reportedly finds ousted chairman Ghosn failed to disclose $80 million in deferred pay - In the Wake of GDPR, Will the U.S. Embrace Data Privacy? - The Growing Importance Of Cybersecurity Skills - And More
11/29/2018 1:24:00 PM

 

 

Nissan probe reportedly finds ousted chairman Ghosn failed to disclose $80 million in deferred pay

On Nov. 29, CNBC reported, “Ousted Nissan chairman Carlos Ghosn failed to disclose more than $80 million in deferred pay, the Wall Street Journal reported, citing an unnamed person familiar with the company's investigation. A Nissan probe found that Ghosn accumulated about $82 million in IOUs from Nissan over a period of nine years without any plan for how the compensation would be paid, people familiar with the matter told the Journal. While the company committed to pay him that money, there was no plan set in place for how he would collect the money after retirement. Japanese prosecutors arrested Ghosn on Nov. 19 for allegedly under-reporting his income.”

 

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In the Wake of GDPR, Will the U.S. Embrace Data Privacy?

On Nov. 29, Fortune reported, “A year ago, the idea of a federal data privacy law in the U.S. was unthinkable for all but a handful of digital rights activists. As 2018 comes to a close, the prospect of such legislation has suddenly become very real. … Remarkably, Silicon Valley seems to be on board. In September, Apple and Google urged lawmakers to create new federal privacy legislation.”

 

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The Growing Importance Of Cybersecurity Skills

On Nov. 28, Forbes reported, “Cybercrime costs the U.K. several billion pounds per year. Indeed, a recent government report showed that 46% of all businesses identified at least one cyber attack in the last year, with 74% of directors regarding cybersecurity as a high priority issue for them. Despite this level of priority, organizations struggle to attract the talent they need to keep up with the constant arms race they face with hackers and other cyber criminals. The Czech Republic may not be the first place you think of when it comes to finding these skills.”

 

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Australia's biggest bribery prosecution finally revealed

On Nov. 28, The Sydney Morning Herald reported, “A landmark corruption prosecution that reached the very top of Australia’s financial system and had links to powerful officials across the globe has dramatically ended, almost 10 years after it began, with a guilty plea by a kingpin of the bribery scheme. It can now be revealed that two companies owned by the Reserve Bank of Australia, Securency and Note Printing Australia, were fined a record $21.6 million in 2012 for their criminal conduct. However, the cases against four accused individuals have collapsed after bungling by law enforcement agencies.”

 

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Register for the Internal Investigations Workshop to learn the essentials of conducting compliance investigations | January 7-9 in San Diego | Learn More >Register for the Internal Investigations Workshop to learn the essentials of conducting compliance investigations | January 7-9 in San Diego | Learn More >

 

WIPO 'temporarily suspends' whistleblower CIO amid allegations of misconduct

On Nov. 28, The Register (UK) reported, “The World Intellectual Property Organisation has temporarily suspended CIO and whistleblower Wei Lei as it probes allegations of misconduct made against him, an internal memo seen by ‘The Reg’ has confirmed. Lei gave evidence in 2014 to an inquiry by the United Nations Office of Internal Oversight Services (OIOS) into an accusation that Francis Gurry, controversial director general (DG) of WIPO, a UN patent body, allegedly steered a tech procurement contract to an acquaintance – as well as other allegations around DNA samples taken from staff. That report was delivered in 2016.”

 

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'The problem is Facebook,' says Canadian official

On Nov. 27, CNBC reported, “Facebook refused to entertain the idea of antitrust regulation of during a hearing in the U.K. on Tuesday with representatives from nine governments. Canadian representative Charlie Angus concluded the hearing with a fiery exchange with a Facebook vice president, and suggested the company get to what he saw as the heart of the issue — Facebook's dominance in social media.

CEO Mark Zuckerberg declined to attend the hearing, despite the representatives' repeated insistence.”

 

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US antitrust enforcement falls to slowest rate since 1970s

On Nov. 27, Financial Times reported, “Criminal antitrust enforcement under Donald Trump has fallen to its slowest rate since the 1970s, according to figures compiled by the Financial Times. Fewer than 20 new cases were publicly filed by the Department of Justice in the most recent fiscal year, a level last seen in 1972, almost five decades ago. The analysis did not include cases that may remain under seal.”

 

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Societe Generale to pay $1.4 billion to settle cases in the U.S.

On Nov. 19, Reuters reported, “The bank agreed to pay $1.34 billion to settle investigations into its handling dollar transactions in violation of U.S. sanctions against Cuba and other countries, the bank and the U.S. authorities said in separate statements. Additionally, the bank said it agreed to pay $95 million to settle another dispute over violations of anti-money laundering regulations. SocGen, as the bank is informally known, has been dogged for more than a year by a series of costly legal disputes.”

 

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