All EMEA articles – Page 12
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NewsLuxembourg’s privacy commissioner defends lack of GDPR fines
A commissioner at the Luxembourg data protection agency has defended the lack of fines for General Data Protection Regulator (GDPR) breaches in the country, where many multi-national businesses are based.
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NewsAuthorities shut down trafficking and laundering network that made profit of €14 million
Law enforcement agencies have dismantled a cross-border human trafficking and laundering ring, raiding properties and arresting 38 suspects in France, Romania and Moldova.
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BlogThe EU’s UK adequacy decision should not be seen as a cast-iron permanent solution
Businesses breathed a sigh of relief last week when the European Union issued a draft adequacy decision guaranteeing the continued free flow of personal data between the EU and UK. Muzaffar Shah argues however that potential regulatory divergence and legal precedent point to an uncertain future for the arrangement.
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NewsSpain fined €15m for failing to adopt data protection directive
The EU’s Court of Justice has imposed a €15m ($18.0m) financial penalty on Spain for not adopting a European Commission (EC) directive about the protection of personal data. The court also ruled Madrid must pay €89,000 daily while it fails to comply.
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BlogBlaming company formation agents misses the bigger picture about AML in the UK
The National Crime Agency is planning a crack down on company formation agents as part of an AML drive. However, John Binns argues the problems are due to more significant holes in the UK’s financial crime safety net
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NewsA strong compliance programme “should be part of a company’s DNA” says head of UK’s SFO
The head of the United Kingdom’s economic crimes investigative agency has stressed the need for companies to have a strong compliance programme.
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ebookThe Key Pillars for Protecting Sensitive Data
Traditionally organizations have focused IT security primarily on perimeter defense, building walls to block external threats from entering the network. While this is still important, it is not enough.
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NewsGermany, Portugal and Romania warned to bring AML laws into line with rest of Europe
The European Commission has sent formal letters of warning to Germany, Portugal and Romania urging them to bring their anti-money laundering (AML) laws into line with European Union directives “correctly”.
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NewsCash payments to UK universities raise money laundering concerns
Financial crime experts have raised concern about the number of universities in the UK which accept cash payments from students from countries with high money-laundering risks.
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NewsEuropean Commission issues draft data adequacy decision for UK
The European Commission has issued draft adequacy decisions for the transfer of personal data to the United Kingdom.
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NewsFacebook fined €7m in Italy for non-compliance with data practices
Italy’s Competition Authoity has fined Facebook €7m ($8.42m) for not complying with changes to data practices ordered by the anti-trust authority in November 2018
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NewsDenmark improves FATF compliance overall but downgraded on efforts to regulate VASPs
Denmark’s efforts to improve its anti-money laundering (AML) legislation have been rewarded with a higher technical compliance rating in five areas, but has been downgraded on its efforts to curb Virtual Asset Service Providers (VASPs)
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NewsConsumer body says TikTok potentially breached GDPR
TikTok may have breached the General Data Protection Regulation (GDPR) through the misleading processing of personal data, according to the European Consumer Organisation BEUC said.
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BlogFinancial crime co-operation should continue despite Brexit Trade Agreement changes
The Trade & Cooperation Agreement which came into effect last month marks the start of a new financial crime fighting relationship between the United Kingdom and European Union, writes Francesca Titus
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News“Fishrot Files” corruption and laundering probe into Norway’s largest bank DNB dropped
Norway’s largest bank DNB has announced it is no longer being investigated by the country’s financial crime watchdog over alleged links to bribery and money laundering
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NewsEU-UK data adequacy decision proposal ‘expected within days’
The European Commission is widely expected to propose data adequacy for the UK within days.
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NewsSwedish DPA fines police for unlawful processing of facial recognition app data
The Swedish Authority for Privacy Protection (IMY) has ordered the country’s police authority to pay a SEK2.5m ($297,000, €247,000) financial penalty for incorrect processing of personal data when using Clearview AI’s facial recognition technology to identify individuals.
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BlogThe complicated relationship between UK sanctions and Brexit
The sanctions regime in the United Kingdom and Europe is becoming much more complicated due to Brexit and compliance professionals are watching closely. The International Compliance Association and UK Finance explain more.
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NewsBank of Russia reports ‘surge’ in illegal financial services offered online
The central bank of the Russian Federation has identified more than 1,500 organisations suspected of engaging in illegal financial service activity in 2020, as online fraud “surged” during the Covid-19 pandemic.
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News£4.5bn of unreported cash identified in UK as criminals exploit ‘cottage industry’ of shadowy company formation
A ‘cottage industry’ of company formation agencies is helping criminals launder billions of pounds in the UK, with £4.5billion of unreported income identified between 2012 and 2017, a report has revealed.
