GRC Report Staff

In a move that feels more like a privacy rollercoaster than a tech update, Apple has pulled its Advanced Data Protection (ADP) service from the United Kingdom. If you’re scratching your head wondering why this matters, ADP is a service that provides end-to-end encryption for iCloud data. That means your photos, notes, and other personal files are only accessible by you—unless, of course, someone gets a backdoor key. And that's exactly what the UK government has been asking for.

The Public Company Accounting Oversight Board (PCAOB) has recently put its foot down on PwC Israel (Kesselman & Kesselman C.P.A.s) for a serious lapse in integrity that undermined professional standards. The firm, a member of the global PricewaterhouseCoopers network, has been slapped with a $2.75 million fine, a public censure, and a raft of corrective measures after it was found guilty of allowing improper answer sharing on internal training exams over a span of five years.

The Competition and Markets Authority (CMA) has reached a settlement with several major banks over the unlawful exchange of competitively sensitive information. The settlement centers on the secretive sharing of details related to UK government bonds—commonly known as gilts—which play a crucial role in financing public spending.

In a spirited effort to demystify the world of environmental, social, and governance (ESG) risks, the European Banking Authority (EBA) has unveiled a report that reads like both a celebration and a call to action. Amid the complexities of modern finance, the report reveals tangible progress in making ESG data more available and accessible, yet it reminds us that the puzzle is far from complete.

DeepSeek, the China-based AI chatbot service, is currently navigating a tricky regulatory landscape as privacy concerns grow across the globe. After being hit with privacy scrutiny in South Korea and facing an enforcement action in Italy over data protection practices, DeepSeek is working to address key concerns to avoid further disruptions to its operations.

Spain’s Comisión Nacional del Mercado de Valores (CNMV) has released the results of its 2024 review on how entities under its supervision assess risks related to money laundering. The review, conducted as part of Spain’s broader push to meet new European regulations, uncovered several shortcomings in the way entities approach money laundering risk assessments, calling attention to critical areas that require improvement.

The Office of the Comptroller of the Currency (OCC) is keeping a close watch on both banks and their employees with its February enforcement actions. The agency has taken action against several banks and individuals for serious compliance failures and misconduct. It’s not just about issuing penalties, it’s about ensuring lasting change and reinforcing accountability across the banking industry.