Google and Apple charged South Korean app developers a 26% commission even when those developers chose to use their own payment systems. The developers also had to bear the costs of building and operating those systems, while working without some of the features available through the companies' proprietary billing services.
Moody’s Investors Service Middle East reported seven incidents of inadvertent data disclosure to Dubai’s financial regulator over a period of nearly two and a half years. Four involved confidential information reaching recipients outside the company. During that period, the credit rating agency had discontinued using a data security tool without immediately replacing it.
A multinational can deploy the same artificial intelligence system in Frankfurt, Chicago, and Singapore and face three different sets of questions about its legality, oversight, and accountability. The technology is identical, but the obligations attached to it are not. In Europe, the company must decide whether the system falls within the EU Artificial Intelligence Act, what role the company plays under it, and which requirements are already enforceable. In the United States, the inquiry moves among federal statutes, sector regulators, state laws, and enforcement powers that predate generative AI. Singapore pairs an enforceable data protection statute with voluntary AI governance frameworks meant to shape how organizations build and use the technology.
Perfection Fresh, Australia's second-largest fresh vegetable supplier, has admitted fixing the prices of broccoli, cauliflower and iceberg lettuce sold to ALDI in New South Wales on 11 occasions between 2019 and 2020, agreeing to a proposed penalty of $8.44 million (AUD $12 million).
The use of generative artificial intelligence among Finnish financial institutions has climbed from 74% to 90% in a year, according to a regulatory survey that also found the technology moving further into customer-facing operations.
The Office of the Australian Information Commissioner (OAIC) received 667 notifications between January and June, compared with 662 in the preceding reporting period. Figures released Monday show that breaches involving large numbers of people became considerably more frequent, even as organizations improved the speed with which they identified incidents.
Six British lending firms have had their business activities restricted after the Financial Conduct Authority raised concerns about their anti-money laundering controls, with one company required to wind down its existing loan book and five others ordered to undergo independent reviews.
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