GRC Report Staff

New Zealand’s AML/CFT supervisors have refreshed the customer due diligence playbook across common business structures, pairing an April 2024 guide for limited partnerships with a new September 2025 guide for sole traders and partnerships. Both were issued under section 132(2) of the AML/CFT Act 2009 and are meant to be read alongside the Beneficial Ownership and Enhanced CDD guidance. They are not legal advice, but reporting entities must have regard to them when building or updating their programmes.

Hackers have compromised a third-party supplier of Harrods, exposing 430,000 customer records with sensitive e-commerce information, the luxury retailer confirmed after reports first surfaced in major UK media outlets.

The European Union said recently it will push back by another year the entry into force of its sweeping anti-deforestation law, citing capacity problems with the IT system designed to support the rules. The law, hailed by green groups as a breakthrough but fiercely opposed by several trading partners, had already been delayed once before.

Italy’s competition watchdog has slapped some of the country’s biggest oil companies with fines totaling more than €936 million after uncovering a cartel that rigged the price of fuel components for over three years.

Indonesia’s competition watchdog has handed TikTok a 15 billion rupiah (about $1.15 million) fine after the company failed to promptly report its takeover of Tokopedia, the country’s largest e-commerce platform, Reuters first reported.

For nearly two weeks in late 2023, some UK business customers of Vonage picked up their desk phones and discovered they couldn’t dial 999. Today, Ofcom confirmed that lapse will cost the communications provider £700,000.

The Federal Energy Regulatory Commission (FERC) has been busy. In just two weeks, the agency authorized natural gas expansions in Pennsylvania, issued hydropower licenses across New Hampshire and Minnesota, advanced LNG projects along the Gulf Coast, and sharpened cybersecurity rules for the bulk power system — all while defending its decisions in court and auditing some of the nation’s largest utilities.