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In recent years, artificial intelligence (AI) systems have become increasingly common in both business and daily life – with many people not even fully aware that AI is changing the way they go about their day.  From virtual assistants to online shopping to driving to streamlining production processes, AI is powering so much of what we do.

In December 2023, the EU’s three branches – the European Parliament, the Council of the EU and the European Commission – reached a provisional agreement on the EU’s proposed Artificial Intelligence Act (AI Act). Once it passes – it hasn’t been fully approved yet – it will be the world’s first comprehensive legislation on AI and could set a standard for laws enacted in other parts of the world. 

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Wednesday 20 March 12pm UK

There are around 3 million unpaid carers in the UK, and more than one in seven people in any workplace is a carer. Unpaid carers’ work is often painful and exhausting, and a workplace that supports all its staff should also support carers.

The Carers Leave Act became law in 2023 and gives employees a statutory right to a week’s unpaid leave to care for a dependent. Show the carers among your staff that you value them as employees and recognise their unique challenges by making sure your organisation is a supportive place for carers.

In this free webinar, VinciWorks experts will explore what the Carers Leave Act means, its obligations to employees and employers, and how to make your organisation a supportive and welcoming place for carers.

The webinar will cover:

  • The experiences of carers at work
  • The Carers Leave Act’s new regulatory obligations on organisations
  • The unique needs of carers
  • How workplaces can build a supportive environment for carers
  • Understanding the challenges that carers face

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Preventing fraud and unethical business practices is a constant challenge for any organisation. The key to prevention is recognising red flags and having the necessary protocols in place to ensure business integrity. Our fraud and fair competition courses offer a comprehensive look into the critical issues surrounding fraud prevention, fair competition, and ethical business practices. The training empowers individuals and businesses alike to uphold fair competition and integrity in all aspects of their operations.

With our in-browser editing tool, you can now tailor any of the courses in real-time to reflect your organisation’s specific protocols for maintaining business integrity. Edits are clearly visible as you make them and results can easily be shared with your colleagues via a unique link.

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Consistent polls are showing that the Labour Party will be in for a 1997-style landslide come the next British general election, expected sometime in 2024. In the run up to the election, the Labour Party have been setting out their agenda for government. In this blog, we examine the likely regulatory priorities for government, and what this could mean for compliance.

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Last week saw the third in VinciWorks’ successful series of AML core group meetings and the first of 2024. These meetings are an opportunity for AML professionals in the world’s leading law firms to come together to share ideas and best practice hosted and facilitated by the VinciWorks and Compliance Office team.

Impact of ECCTA

VinciWorks’ Business Development Director Tom Evans gave a recap of the Economic Crime & Corporate Transparency Act (ECCTA) and its impact on KYC processes for firms. ECCTA has brought the biggest ever changes to Companies House since its inception, giving it new powers to act as an active gatekeeper to check and reject company registration details. ECCTA also introduces reforms to how LLPs are managed. LLPs must now have a UK-registered office. Many of the core group members have set up working groups on ECCTA.

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How two recent news stories portray companies’ complicated relationship with AI’s evolving technology

It’s hard to predict what lies in artificial intelligence’s (AI’s) regulatory future for the simple reason that AI’s technology is constantly evolving. This means its issues, of bias or copyright or lack of transparency, to name a few will continue to shape the regulatory agenda for many years to come. 

Two news stories highlight the complex relationship companies have with AI and the often circuitous path they will have to take to achieve some sort of control over this nearly unmanageable technology.

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Anti-money laundering audit

Following earlier rounds of US sanctions on Hamas, the US is now offering up to $10 million for information on five Hamas financiers or anything leading to the disruption of the Palestinian terror group’s financial mechanisms, the State Department reported. The five Hamas financial facilitators under this reward offer are named as Abdelbasit Hamza Elhassan Khair, Amer Kamal Sharif Alshawa, Ahmed Sadu Jahleb, Walid Mohammed Mustafa Jadallah, and Muhammad Ahmad ‘Abd Al-Dayim Nasrallah.

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Sanctions stamp

In a significant move, the Japanese government has announced fresh sanctions targeting three senior members of Hamas. Chief Cabinet Secretary Yoshimasa Hayashi revealed on Tuesday that the sanctions would include the freezing of assets and restrictions on payments and capital transactions involving the specified individuals. The decision comes in response to their alleged involvement in the October 7th attacks by Hamas on Israel, with concerns about their ability to use funds to finance further terrorist activities. The government believes that these individuals hold positions enabling them to utilise funds for supporting terrorist activities. 

Meanwhile, just a few days later, the US Treasury Department imposed sanctions on individuals and groups accused of facilitating the flow of Iranian financial assistance to Houthi rebels in Yemen. These sanctions target key figures such as the head of the Currency Exchangers Association in Sana’a, Nabil Al-Hadha, and three exchange houses in Yemen and Turkey. These actions come in response to the Houthi rebels’ targeting of Israel and international shipping lanes since October 7. The measures, blocking access to US property and bank accounts, are part of a broader strategy to curb the illicit flow of funds to the Houthis, who have been conducting dangerous attacks on international shipping, further destabilising the region. The US, along with its allies, emphasises its commitment to targeting facilitation networks supporting the Houthis and their backers in Iran.

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Financial firms are largely exempt from the scope of the directive, for now

The Council and the European Parliament agreed to a provisional deal on the corporate sustainability due diligence directive (CSDDD), which aims to enhance the protection of the environment and human rights in the EU and globally. 

The directive sets obligations for companies to mitigate their negative impact on human rights and the environment such as child labour, slavery, labour exploitation, pollution, deforestation, excessive water consumption or damage to ecosystems. It applies to large EU companies and parent companies with over 500 employees and a worldwide turnover of €150 million. The legislation will also apply to companies with over 250 employees and with a turnover of more than €40 million euro if at least 20 million are generated in certain “high risk” sectors. These actual and potential adverse impacts apply not just across companies’ operations but also up and down their value chains.

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2023 was yet another exciting year for growth at VinciWorks. With two more leading elearning providers, DeltaNet and EssentialSkillz, being fully merged into our brand, we are now able to offer around three times as many courses, and in multiple formats. We offer video courses, five-minute knowledge checks and in-depth courses that can be adapted to suit specific industries and roles. 

Our development team has also been busy. We’ve built an in-browser editor into our courses and will release our “client portal” in 2024 to allow clients to seamlessly manage their staff’s training. We have also added multiple integrations to Omnitrack, software that allows businesses to manage data collection, follow-up, approvals and reporting, all from one centralised portal.

Let’s take a look at our achievements in 2023, before raising a glass to a new year.

2.3m video views

This number has almost doubled since last year and includes 3.8 million hours of video streamed. In 2023, we increased our video capabilities, allowing us to produce video courses using professional actors. We also have several courses that include both film and text, such as our new course on artificial intelligence

Our most popular video courses in 2023:

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