Australia plans to introduce a law by the end of the year forcing internet companies to proactively stop hosting scams or face hefty fines, the top consumer regulator said on Friday, potentially setting up another showdown with Big Tech. The …
Nordea Bank could face an estimated maximum fine of almost $1 billion over alleged failures to stop money laundering if it loses its case with Denmark, according to some legal experts, an amount that would far exceed the lender’s own …
Financial regulators in 25 U.S. states announced on Wednesday a settlement with cryptocurrency investment platform Abra and its CEO for operating without required state licensing. As part of the settlement, Abra last year agreed to stop accepting crypto from U.S. …
The US Federal Trade Commission sued Adobe Inc., alleging the software company violated consumer protection laws by making it too difficult for consumers to cancel their subscriptions. Adobe pushed users toward annual subscriptions to its creative software such as Photoshop …
MicroStrategy Inc. and its co-founder and Chairman Michael Saylor will pay $40 million to resolve a tax fraud lawsuit. The Washington, DC, attorney general’s office sued Saylor in August 2022, alleging the crypto billionaire had failed to pay more than …
Mondelez International Inc. was fined €337.5 million ($366 million) after European Union antitrust watchdogs said the US company illegally thwarted cross-border sales of its chocolate, cookies and coffee. The EU said the maker of Côte d’Or chocolate, Ritz crackers and …
Intercontinental Exchange, Inc., which owns the New York Stock Exchange, agreed to pay $10 million to settle Securities and Exchange Commission allegations that the exchange giant failed to immediately tell the SEC about a hack of its systems in 2021. …
Settlements and judgments under the False Claims Act exceeded $2.68 billion in the fiscal year ending Sept. 30, 2023, according to the Attorney General’s office. The False Claims Act imposes treble damages and penalties on those who knowingly and falsely …
Gemini Trust Co., the crypto exchange founded by twin entrepreneurs Cameron and Tyler Winklevoss, will return at least $1.1 billion to customers though the Genesis Global Capital bankruptcy as part of settlement with the New York Department of Financial Services. …
Tesla Inc. and News Corp. face some of the earliest regulatory enforcement actions under New York City’s closely watched pay transparency law. The city alleges the businesses ignored the requirement to include salary ranges in job ads or posted such …