Optus has been dealt a major blow in the Federal Court, ordered to pay $65 million (AUD 100 million) after admitting it engaged in unconscionable conduct by selling mobile phones and plans to vulnerable Australians who often could not afford, use, or understand them.
UBS has put an end to a long-running French legal battle, agreeing to pay €835 million ($895 million) to settle charges tied to its cross-border business activities from 2004 to 2012.
The role of technology in governance, risk, and compliance has never been more important. Organizations are under pressure to build resilience, integrate governance into decision-making, and ensure that risk management isn’t just a side function but part of the strategy that drives the business forward. Yet there’s still plenty we don’t know, including which approaches are working best, where maturity gaps remain, and what investments will define the future.
The Department of Justice’s Criminal Division is having what Acting Assistant Attorney General Matthew R. Galeotti called “a record-breaking year” in its pursuit of white-collar crime, and he made clear in remarks Friday at the Global Investigations Review Annual Meeting in New York that prosecutors are far from finished.
South Korea’s financial regulator is tightening the screws on cyber risk, warning banks and other financial institutions that security can no longer be an afterthought. On September 23, Vice Chairman Kwon Dae-young of the Financial Services Commission (FSC) met with chief information security officers from across the sector to address the recent wave of cyber breaches and to press for stronger resilience.
The world’s top privacy watchdogs are closing ranks on artificial intelligence, signaling that innovation must not come at the expense of privacy. At the Global Privacy Assembly (GPA) in Seoul last week, twenty data protection authorities from across Europe, Asia-Pacific, and North America endorsed a joint statement designed to lay down governance guardrails for AI.
The BBC first reported that a ransomware attack against Collins Aerospace’s airport software has forced check-in and boarding systems offline across several of Europe’s busiest airports, leaving airlines to rely on manual workarounds.