An Australian insurer has been ordered to pay approximately $1.4 million (AUD 2 million) after admitting to serious failures in handling a storm damage claim that left a Victorian family living in a deteriorating home for years.
The Office of Competition and Consumer Protection (UOKiK) has imposed approximately $1.2 million (PLN 4.692 million) in fines on AS Inbank over three practices involving loans that were legally connected to the purchases they financed. The authority found that AS Inbank had treated the agreements as independent consumer loans, denying borrowers information about protections available under Polish law.
The European Parliament has called for stricter rules on political financing, conflicts of interest and lobbying as the European Commission prepares the EU's first anti-corruption strategy. In a new resolution, lawmakers urged the Commission to strengthen oversight of public procurement, improve cooperation between national investigators and EU enforcement agencies, and introduce more consistent standards for monitoring corruption across member states.
A coalition of 43 states and territories has asked a federal court to approve a $400 million settlement with Sandoz and Fougera Pharmaceuticals, two generic drug manufacturers accused of participating in a widespread conspiracy to fix prescription drug prices, divide markets and suppress competition.
Italy’s competition authority has opened an investigation into Suno, putting the generative AI music company’s Terms of Service under scrutiny over provisions that appear to give the company considerable freedom over its users while sharply limiting what those users can do in return.
Very large sums were arriving without enough being known about where the money had come from. Some transactions carried clear signs of elevated risk. Modulr Finance sometimes investigated them only minimally, and sometimes not at all. Those findings form part of the case that led De Nederlandsche Bank to fine the electronic money institution €722,160 for serious shortcomings in its anti-money laundering controls.
The Financial Crimes Enforcement Network has abandoned two proposed rules that would have tightened federal requirements around certain digital asset transactions, including those involving unhosted wallets and convertible virtual currency mixing.
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