Manual data entry error results in a half million dollar sanctions penalty
The US Department of Commerce’s Bureau of Industry and Security (BIS) has imposed a $500,000 civil penalty on GlobalFoundries US Inc. and its subsidiary, GlobalFoundries U.S. 2 LLC, for violating export regulations. Between February 2021 and October 2022, the company made 74 shipments of semiconductor wafers valued at approximately $17.1 million to SJ Semiconductor (SJS), […]
November 2024 updated guide to high risk jurisdictions for money laundering
Following the FATF’s plenary at the end of October 2024, VinciWorks has released its updated guide for all of the high risk jurisdictions for money laundering. This guide includes all of the jurisdictions subject to increased FATF monitoring, alongside countries on the EU’s High Risk Third Countries. This guide includes those jurisdictions which have […]
The SRA thematic review on AML training best practices: what law firms need to know
The Solicitors Regulation Authority recently conducted a thematic review on Anti-Money Laundering training, revealing crucial insights into where law firms excel in compliance and where they need improvement. VinciWorks were proud to have contributed to this review and shared our insights as a leading provider of compliance solutions to the sector, With significant regulatory and […]
Europäische KI-Köpfe sorgen sich zunehmend um hohe Compliance Kosten
Die steigenden Compliance-Kosten durch das EU-Gesetz zur Künstlichen Intelligenz (AI-Act) stellen Unternehmen in Europa vor große Herausforderungen. Führende Vertreter der Tech-Branche warnen davor, dass kleinere Unternehmen besonders stark betroffen sind und befürchten eine „Überregulierung“. Das Gesetz verlangt von Unternehmen, strenge Sicherheitsstandards für KI-Systeme einzuhalten. Dies betrifft insbesondere die Einhaltung von Transparenzregeln, Risikobewertungen und umfangreichen Berichtsanforderungen. […]
More changes to UK GDPR? What the Data (Use and Access) Bill means for data protection in the UK
The Data Usage and Access Bill [House of Lords], or DUAB, is the latest piece of legislation aimed at updating how data is handled and shared in the UK. At 251 pages, with 138 clauses and 16 schedules, this change to UK GDPR is significant. Many of its data protection changes come in the form […]
The Worker Protection Act requires employers to prevent sexual harassment, but the Employment Rights Bill will go further
The Worker Protection Act 2023, requiring all UK organisations to take a proactive approach and implement reasonable steps to prevent sexual harassment is in force from 26 October 2024. Although the new law requires employers to assess the risk of sexual harassment, the legislation was weakened throughout its passage in Parliament. However the forthcoming Employment […]
Barristers and the new equality, diversity and inclusion duty: free webinar
VinciWorks is proud to be hosting a free, 1-hour webinar on Wednesday 13 November at 12pm UK time on understanding the new professional duty on EDI for barristers. We’ll be joined by Poornima Karunacadacharan, Policy Manager, Equality and Access to Justice at the Bar Standards Board, who will be answering your questions on what the […]
Big Tech will KI-Verordnung abmildern
Die großen Technologieunternehmen wie Google, Meta und OpenAI stehen im Zentrum der aktuellen Diskussionen um die neue KI-Verordnung der Europäischen Union (AI Act). Der AI Act, der im Mai 2024 verabschiedet wurde, stellt das weltweit erste umfassende Regelwerk zur Regulierung von Künstlicher Intelligenz dar. Er zielt darauf ab, sowohl innovative KI-Systeme wie ChatGPT als auch […]
Meta verzögert Beitritt zum EU-KI-Pakt: Fokussierung auf die Einhaltung des AI Acts
Meta, der Mutterkonzern von Facebook und Instagram, hat angekündigt, dass es sich nicht sofort dem neuen EU-KI-Pakt anschließen wird, der als freiwillige Vereinbarung zwischen großen Technologieunternehmen dient, um ethische Standards für Künstliche Intelligenz (KI) zu setzen. Stattdessen legt Meta seinen Fokus zunächst auf die Einhaltung der KI-Verordnung der Europäischen Union, einem umfassenden Gesetz zur Regulierung […]
