tyb
as usual top kek stuff anon!
Canada watchdog to seek court order to force Facebook to follow privacy laws
OTTAWA, April 25 (Reuters) - Facebook Inc broke Canadian privacy laws when it collected the information of some 600,000 citizens, a top watchdog said on Thursday, pledging to seek a court order to force the social media giant to change its practices.
Privacy Commissioner Daniel Therrien made his comments while releasing the results of an investigation, opened a year ago, into a data sharing scandal involving Facebook and the now-defunct British political consulting firm Cambridge Analytica.
"Facebook's refusal to act responsibly is deeply troubling given the vast amount of sensitive personal information users have entrusted to this company," said Therrien.
Specifically, the company refused to voluntarily submit to audits of its privacy policies and practices over the next five years, he said.
"The stark contradiction between Facebook's public promises to mend its ways on privacy and its refusal to address the serious problems we've identified - or even acknowledge that it broke the law - is extremely concerning," he added.
Facebook was not immediately available for comment.
The Office of the Privacy Commissioner does not have the power to levy financial penalties, but it can seek court orders to force an entity to follow its recommendations.
It could take a year to obtain a court order, Therrien said.
The investigation revealed there was an "overall lack of responsibility" with people's personal information that means "there is a high risk that" their data "could be used in ways that they do not know or suspect, exposing them to potential harms."
Apart from privacy violations by Facebook, the investigation also highlighted problems with regulating social media.
Facebook's rejection of the watchdog's recommendations revealed "critical weaknesses" in the current legislation, Therrien added, urging lawmakers to give his office more sanctioning power.
"We should not count on all companies to act responsibility and therefore a new law should ensure a third party, a regulator, holds companies responsible," Therrien said.
Canadian Democratic Institutions Minister Karina Gould, who this month said the government might have to regulate Facebook and other social media companies unless they did more to help combat foreign meddling in this October's election, will react later on Thursday, a spokeswoman said.
Facebook said on Wednesday it had set aside $3 billion to cover a settlement with U.S. regulators probing revelations that the company had inappropriately shared information belonging to 87 million of its users with Cambridge Analytica.
https://www.nasdaq.com/article/canada-watchdog-to-seek-court-order-to-force-facebook-to-follow-privacy-laws-20190425-00950
wait faggot…you'll see
Swedbank admits money laundering flaws, faces multiple U.S. probes
STOCKHOLM (Reuters) - Swedbank admitted to failings in combating money laundering on Thursday and said it was under investigation by multiple U.S. authorities, piling more pressure on the bank as it tries to rebuild its reputation.
Sweden’s oldest bank, whose CEO and chairman have both left as money laundering allegations snowballed, is already facing a joint probe by financial watchdogs in Sweden and the Baltics and another by Sweden’s economic crimes body.
Swedbank has found itself caught up in a regional money laundering scandal originating with Danske Bank, which said last year that 200 billion euros ($223 billion) of suspicious funds moved through its Estonia branch between 2007 and 2015.
Swedish broadcaster SVT has reported that Swedbank processed gross transactions worth up to 20 billion euros a year from high-risk, non-resident clients, mostly Russian, through its Estonian branch from 2010 to 2016.
Any action by U.S. authorities, such as the Department of Justice or the Securities and Exchange Commission, is a key concern for investors because of the size of potential U.S. sanctions could dwarf those from local watchdogs and even jeopardize Swedbank’s ability to transact in the U.S. dollar.
Swedbank did not name the U.S. watchdogs. The SEC and Sweden’s financial watchdog declined to comment.
Since allegations first surfaced in February, the bank had repeatedly said it had faith in its anti-money laundering procedures and that suspicious transactions that were identified were reported to authorities.
But acting CEO Anders Karlsson, who took charge at the end of March, admitted on Thursday that previous internal investigations had indicated shortcomings.
He cited reports of certain customers identified in previous money-laundering cases not being flagged, weaknesses in know-your-customer procedures and a lack of reports to the authorities on some suspicious transactions.
“For Swedbank to deserve the trust of customers, authorities, investors, employees and other stakeholders, continuous improvement in our anti-money laundering work is required,” Karlsson told reporters.
Alecta, the banks’s third biggest investor which has criticized its handling of the crisis, praised Thursday’s disclosures, which its CEO Magnus Billing said answered a call for greater transparency made by investors.
“Swedbank is being transparent, cooperating with the authorities and working to restore trust, which is necessary and positive,” he told Reuters.
https://www.reuters.com/article/us-swedbank-results/swedbank-admits-money-laundering-flaws-faces-multiple-u-s-probes-idUSKCN1S10DK
trips confirm
o7
as if there are not many moar. Learn to separate the product from the people who produce it.
You simply refuse to understand this.
Whatadouche you are. Please spare me your small-minded "expertness"
no aggro other than your inference. Do just fine, thank you, without your projection of what you think I know.