All GRC World Forums articles in February 2021 – Page 5
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NewsIndia’s central bank restricts investments in ‘shadow banks’ from non-FATF compliant nations
The Reserve Bank of India has announced a tightening of rules for new investors from overseas in Non-Banking Financial Companies (NFBC)
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NewsClubhouse app reviews data protection practices following concerns about potential Chinese government access
High-profile US app Clubhouse has pledged to review its data protection procedures after academics warned it contained security flaws that left users’ data at risk of being accessed by the Chinese authorities.
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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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NewsMyanmar junta’s cyber security bill faces opposition
A total of 158 civil society organisations in Myanmar have spoken out against a cyber security bill issued by the military regime which overthrew Aung San Suu Kyi’s democratically elected government.
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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.
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Webinar6 Growing Data Risks Legal Departments Must Protect Against in 2021
It’s fair to say that 2020 was a year of disruption. While some of these shifts were fairly predictable (like the launch of the U.S.’s most far-reaching data privacy law to date), more seismic and unforeseen disruptions (a global pandemic and the ensuing rush to work from home) forced abrupt changes in our day-to-day habits and exposed risks in how the General Counsel handles organizational data.
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BlogCum-Ex tax fraud: the difficulties and dilemmas in pinning blame
The Cum-Ex trading scandal led to governments in several western European countries losing billions of Euros in tax revenue. As fresh prosecutions get underway, Tom McNeill explains the difficulties in proving collusion between different parties.
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NewsSingtel caught in Accellion software hack
Singaporean telecommunications company Singtel has launched an investigation to establish the extent of a cyberattack on the Accellion File Transfer Appliance (FTA) system it uses.
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ebookThe Simple Guide to the CPRA
Untangling how the California Privacy Rights Act impacts businesses and consumers
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NewsYellen warns of ‘explosion’ in fraud, cybercrime, cryptocurrency misuse and laundering
The new US Treasury Secretary has warned of the need to tackle rising financial crime, cryptocurrency misuse and cyber attacks.
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FeatureEgregor Ransomware: what is it and why is it worrying the authorities?
A new ransomware group called Egregor has caught the attention of the Federal Bureau of Investigation, prompting it to issue a warning last month. GRC World Forums explains more about what it is and how it is being used in “double-extortion” attempts.
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Q&APrivSec Job Focus: Cristina Costache, privacy lead (EMEA), Strauss Coffee Bv
In our first reader-submitted Q&A, Cristina Costache describes the ever-changing nature of working in privacy
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NewsEU member states agree negotiating stance for ePrivacy regulation
European Union member states have agreed a joint position on the proposed ePrivacy regulation, allowing the EU President to open talks with parliament about the final text.
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NewsScores of data breaches at UK’s merger watchdog
The anti-trust regulator in the UK was hit by 150 personal data breaches in the past two years, five more than in the previous two-year period.
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NewsEU antitrust chief warns Apple must apply iOS 14 privacy policy to its own apps
EU antitrust chief Margrethe Vestager warns Apple that its own apps must abide by its new privacy update amid accusations of anti-competitiveness from Facebook.
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NewsCrown Resorts deemed unsuitable to run $2.2bn Sydney casino due to money laundering concerns
Crown Resorts deemed unsuitable to run $2.2bn Sydney casino due to money laundering concerns
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NewsFTC settles with travel insurer for lax security on cloud database
The Federal Trade Commission (FTC) in the US has finalised a settlement with SkyMed International over allegations that the emergency travel services provider failed to take reasonable steps to secure sensitive consumer information.
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NewsUK authorities eye crackdown on company formation agents’ laundering
The United Kingdom’s National Crime Agency (NCA) is planning a crackdown on company formation agents in a bid to tackle money laundering.