Epic Games, creator of the popular video game Fortnite, has been ordered to pay a total of $520 million in two separate record-breaking settlements with the Federal Trade Commission for alleged violations of the Children’s Online Privacy Protection Act (COPPA). As part of a proposed federal court order filed by Read More
Honeywell has agreed to pay a total of $202.7 million in penalties, disgorgement, and prejudgment interest to authorities in the United States and Brazil to resolve previously disclosed anti-corruption investigations tied to Brazil state-owned company Petrobras, as well as Unaoil in Algeria, the company announced. In its resolution with the Read More
The Department of Justice, Securities and Exchange Commission, and Ericsson jointly agreed to extend the term of the telecommunication company’s compliance monitorship for one year, as Ericsson faces another round of investigations for corruption allegations it never reported. In December 2019, Ericsson was ordered to pay more than $1 billion Read More
Sam Bankman-Fried, the former chief executive and founder of cryptocurrency trading platform FTX Trading, was hit with a wave of civil and criminal enforcement charges brought by numerous agencies this week for orchestrating a scheme that some are calling a simple, but massive case of embezzlement. On Dec. 11, Bankman-Fried Read More
The U.K. Financial Conduct Authority has fined Santander UK 107.8 million pounds (U.S. $132 million) for “serious and persistent gaps” in its anti-money laundering compliance controls. According to the FCA, between December 2012 and October 2017, Santander “failed to properly oversee and manage its AML systems,” which “significantly impacted” its Read More
The Public Company Accounting Oversight Board (PCAOB) announced on Dec. 6 it has sanctioned three KPMG firms and issued $7.7 million in total penalties for a range of violations that occurred from 2016 to 2021. According to the PCAOB, these violations included a failure to cooperate with a PCAOB inspection, Read More
A New York State Supreme Court jury on Dec. 6 convicted the Trump Organization for engaging in a 15-year criminal tax fraud scheme and falsifying business records, marking the first-ever criminal convictions of former U.S. President Donald Trump’s companies, the Manhattan District Attorney’s Office announced. The Trump Organization is a Read More
Telecommunications company AT&T has agreed to pay a $6.25 million penalty for its selective disclosure of material nonpublic information to research analysts in violation of Regulation FD. The penalty is the largest ever in a Regulation FD case, the SEC announced. As part of the settlement, three AT&T executives agreed Read More
ABB, a Swiss-based global technology company, will pay a $315 million criminal penalty in a resolution with the Department of Justice over violations of the Foreign Corrupt Practices Act (FCPA) resulting from bribes paid to an official in South Africa, the DoJ announced. In addition to the criminal penalty, ABB Read More
