Compliance & Ethics

The New York Department of Financial Services (NYDFS) has reached a $40 million settlement with Block, Inc., the parent company of Cash App, following an investigation into significant failures in its anti-money laundering (AML) program and virtual currency compliance. The settlement is a response to gaps in Block’s compliance measures, including inadequate customer identification procedures and poor transaction monitoring that exposed the company to greater money-laundering risks.

The Hong Kong Monetary Authority (HKMA), Hong Kong Police Force (HKPF), and the Hong Kong Association of Banks (HKAB) have come together to announce a series of new measures to tackle the rising wave of fraud and money laundering in the region. The efforts are designed to stay ahead of increasingly sophisticated criminals exploiting technology to conduct their illicit activities at a scale and speed never seen before.

DynCorp International, LLC has agreed to pay $21 million to settle accusations of submitting inflated charges on a State Department contract. The charges stem from the company’s role in the "CIVPOL" contract, which tasked DynCorp with training Iraqi police forces, a mission of both critical importance and considerable complexity.

Google (Alphabet Inc.) has recently pledged a series of commitments to Germany’s Bundeskartellamt, promising to lift several restrictions that have long limited competition around its Google Automotive Services and Google Maps Platform. The deal is expected to give businesses, manufacturers, and consumers much more flexibility, choice, and control over the digital tools they rely on daily.

Four digital health companies in Sweden have been caught up in a web of anti-competitive behavior, one that revolves around the way they advertise on Google Search. While it might sound like an odd battleground for competition, the case highlights just how digital advertising is as crucial as ever in shaping market dynamics. But here’s the catch: three of these companies will be paying hefty fines, while the fourth gets a free pass. Let’s dive into how this unfolded.

For millions of tourists each year, a ticket to the Colosseum isn’t just entry to a historic site, it’s a passage to the ancient world. But for many, getting that ticket has felt like trying to win a lottery they didn’t even sign up for. Well, now we know why.

California and U.S. businesses should take note, bribing foreign officials is still a big no-no, even if recent headlines about the FCPA enforcement pause have you wondering otherwise.