GRC Report Staff

The Korea Financial Intelligence Unit (Korea Financial Intelligence Unit) recently held the first meeting of a new taskforce tasked with revisiting the Act on Reporting and Using Specified Financial Transaction Information. While the meeting itself was procedural, the mandate behind it is anything but. The taskforce is meant to modernize Korea’s AML framework, sharpen responses to cross-border crime and large-scale financial fraud, and prepare the ground for South Korea’s next mutual evaluation by the Financial Action Task Force in 2028.

Italy’s competition watchdog has ordered Meta to immediately suspend new WhatsApp business terms after concluding that they risk unlawfully excluding competing AI chatbot services from one of the world’s most widely used messaging platforms.

South Korean e-commerce giant Coupang has announced a compensation package worth $1.18 billion (SKW 1.69 trillion), according to Reuters, for users affected by one of the country’s largest data breaches, but the plan has quickly become the latest flashpoint in an escalating political and regulatory backlash.

The Federal Trade Commission has moved to reopen and set aside a 2024 final consent order against AI writing company Rytr, concluding that the original enforcement action failed to meet the legal standards of the FTC Act and imposed unnecessary constraints on artificial intelligence innovation.

The European Banking Authority has quietly but meaningfully updated the rulebook that governs how EU supervisors share sensitive information with their counterparts outside the bloc. In revised Guidelines published on December 22, 2025, the EBA strengthened its framework for assessing whether third-country confidentiality and professional secrecy regimes meet EU standards, an essential precondition for effective cross-border supervisory cooperation.

‍On December 22, Kathy Hochul signed the Responsible AI Safety and Evaluation Act, or RAISE Act, setting what state leaders describe as a nation-leading standard for transparency and accountability among developers of so-called frontier AI models. The legislation requires large AI developers to publicly document their safety practices and to notify the state within 72 hours when serious harm linked to their systems is identified.

The Federal Trade Commission is sending a message to companies that play fast and loose with online reviews. FTC staff issued warning letters to 10 companies, flagging potential violations of the agency’s relatively new Consumer Review Rule, which targets fake, misleading, and manipulated product reviews.