Check out your Company Bowl for anonymous work chats.
https://bit.ly/3F6lPYe This week we begin with an article that discusses Meta being sued by anonymous plaintiffs who utilized the US-based tax preparation service H&R Block for violating their trust and privacy. Next, we have a regulation where European legislators hope to limit targeted political advertising on social media by prohibiting the use of some personal data to alter the content. Following that, we have a piece addressing the exemption of early-stage start-ups from complying with norms under the proposed Digital Personal Data Protection bill. After that, we have a confirmation by the court of appeal that class actions brought against compromised data aggregators do not fall under Ontario's newly created legal tort of "intrusion upon seclusion". Next is an analysis specifying that data breach is not about poor cybersecurity practices but about why all organizations need personal data. Finally, we have a story explaining the ecosystem of the darknet market supply chain, the stolen data & generated revenue.
This week we have 24 AML events involving 45 individuals and 02 entities, resulting in a total of USD 31.91 Mn in penalties with incarcerations of 4,556 months. Notable events of the week include a USD 0.36 Mn fine imposed on Kraken by the OFAC for apparent violations of the Iranian transactions and sanctions regulations. Next is a 216-month imprisonment sentence imposed on 3 individuals and a fine of USD 0.13 Mn in total by the Riyadh Criminal Court, for money laundering. Finally, Shaun Norman Currin was sentenced to 588 months imprisonment by the Bellville Magistrates Court, for money laundering, fraud, and theft. Finally, regarding regulatory updates, the FATF has published a report on the methods/ ways and how the proceeds are laundered from synthetic opioid trafficking. Also, The Wolfsberg Group has published its principles for using artificial intelligence and machine learning in financial crime compliance. Click here https://bit.ly/3VONzrd to read in detail about the week's top AML events, news, and regulatory updates.
For the fifth year in a row, ZIGRAM is happy to announce the start of its internship programme in 2023! https://lnkd.in/dXfdEeUW We invite applicants to submit their applications for internships in engineering, data science, and products as one of the world's fastest-growing RegTech and data asset firms. We have worked with more than 150 interns and received over 20,000 applications since the program's start in 2018. We take pleasure in providing interns with hands-on experience working on cutting-edge projects, products, and solutions. Following the completion of their internships, many interns have been hired on as full-time employees and have since led important projects, teams, and initiatives for ZIGRAM. For more information please visit our website at https://www.zigram.tech/ or follow us on LinkedIn for updates.
Case Files by AML Penalties (www.amlpenalties.com) This week we highlight the case of Felix Cisneros Jr., a former special agent of Homeland Security Investigations (HSI), United States of America, who was sentenced for bribery, money laundering, and tax fraud. Click to know more: https://bit.ly/3AZ6TKc Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates.
Unstructured data is information that does not adhere to a pre-set data model or schema, making it difficult for computer program utilization. Unstructured data is not well suited for a common relational database since it is not organized in a predefined way or does not have a predefined data model. Unstructured data is inherently incompatible with transaction processing programs, which frequently deal with structured data. Instead, BI and analytics are its main uses. According to the research firm ITC, the volume of unstructured data is set to grow from 33 zettabytes in 2018 to 175 zettabytes, or 175 billion terabytes, by 2025. In this week’s Know Your Data {KYD}, we present you with a brief overview of unstructured data.
Trend Micro and the Ponemon Institute surveyed respondents for their Cyber Risk Index report, which reveals changes in how enterprises perceive their cyber risk. The CRI uses two criteria to determine the level of cyber risk that enterprises have: their capacity to get ready for cyberattacks that are directed against them (cyber preparedness index - CPI) and the threat assessment for them at the moment (cyber threat index - CTI). Organizations in North America and Asia-Pacific saw an increase in their cyber risk from the second half of 2021 while Europe and Latin/South America’s risk decreased in comparison. This week’s OSIN {One Story In Numbers} represents the cyber preparedness & cyber threat index for H1 2022.
This week's Subject Matter is about the Guidelines On The Use Of Remote Customer Onboarding Solutions On 22 November 2022, the European Banking Authority (EBA) published its guidelines on remote customer onboarding solutions. The guidelines outline the actions financial institutions should take to successfully comply with their AML/CFT requirements while selecting remote customer onboarding solutions and evaluating the suitability and dependability of such tools. Subscribe to AML Penalties @ www.amlpenalties.com for more insights & updates.
Kraken is a centralized global virtual currency exchange providing services to buy, sell or hold cryptocurrencies, as well as trade fiat currency for cryptocurrencies or exchange one cryptocurrency for another. Kraken processed 826 transactions and exported services to users who appeared to be in Iran when they engaged in virtual currency transactions on Kraken’s platform due to its failure to timely implement appropriate geolocation tools, including an automated internet protocol (IP) address blocking system. The settlement amount reflects OFAC’s determination that Kraken’s apparent violations were non-egregious and voluntarily self-disclosed. To read more about this case, please click - https://bit.ly/3Fbpt4p
https://bit.ly/3iktSJ7 This week we begin with an article that discusses a data hack that has affected millions of WhatsApp users. The following article discusses the Financial Conduct Authority's (FCA) proposal to develop a code of conduct for providers of ESG data and ratings. Next, it is discussed how respondents to a LocalCircle's study blamed banking institutions for data breaches in India. Following that, we have a piece concerned with Citigroup to stop poor data management within the company. After that, we have an analysis of how healthcare executives in Australia and New Zealand (ANZ) intend to standardize data interchange to fully utilize data and analytics. Finally, we have a story explaining a DNA database that Macau is creating to fight crime.
This week we have 11 AML events involving 15 individuals, resulting in a total of USD 1.1 Mn in penalties with incarcerations of 768 months. Notable events of the week include a USD 0.1 Mn fine and a 121 months imprisonment sentence imposed on a former Homeland Security Investigations special agent, Felix Cisneros Jr, by the U.S. District Court of Central District of California, for bribery conspiracy, money laundering conspiracy, and tax fraud. Next is a 36-month suspension sentence imposed on a former psychic, Simon Gold, by the Dublin Circuit Criminal Court, Ireland, for money laundering. Finally, Omar Morales Colon was sentenced to 540 months imprisonment by the U.S. District Court of District of Delaware for conspiracy to commit money laundering. Finally, regarding regulatory updates, The UAE's Public-Private Partnership Sub-Committee proposed new plans to stop money laundering and terror financing. Also, Nigeria launched new banknotes to help curb inflation and money laundering. Click here http://bit.ly/3UeTHYD to read in detail
