Welcome to This Week In Compliance: GAN’s weekly news roundup, where we curate the latest stories on compliance and anti-corruption to keep you informed. This week, a federal judge ruled that the antitrust lawsuit against Meta may proceed. Read the full story and more news below:
Meta, Formerly Facebook, Antitrust Lawsuit Can Proceed, Judge Says
A federal judge has rejected a request made by Meta, formerly known as Facebook, to dismiss an antitrust lawsuit by the Federal Trade Commission aimed at the company. The FTC alleged claims of monopolization against the company in late 2020 in a lawsuit that was then dismissed by a federal judge. However, an amended version of the lawsuit has been deemed substantial enough to move forward, opening the company up to a lengthy antitrust battle aimed at Meta’s Facebook product.
SEC Awards Whistleblowers More Than USD 4M
The Securities and Exchange Commission announced whistleblowing awards worth USD 4M to whistleblowers who provided information leading to covered actions. The first award of USD 2.6M went to one whistleblower who first reported internally before reporting to the SEC, about misconduct occurring in their organization overseas. The second award went to joint whistleblowers who provided assistance throughout the course of an investigation that led to the success of the covered action.
Italy Uncovers COVID Fraud Conspiracy
Italian authorities uncovered a scheme to obtain fraudulent COVID-19 vaccination documents involving about 50 people this week. The scheme involved an inside healthcare professional tasked with administering the vaccine, who would first empty the syringe of the drug before administering to patients who sought vaccine cards without actually receiving the vaccination. The nurse allegedly received more than USD 20,000 for their role in the plot.
Former Swedbank CEO Facing Fraud Charges
Birgitte Bonnesen, the former CEO of Swedbank, is facing fraud and money laundering charges relating to a three-year-old scandal involving the bank, one of Sweden’s three largest lenders. Bonnesen is accused of giving authorities false statements about the scandal in an attempt to mislead authorities and downplay accusations against the bank. If convicted, Bonnesen could face up to 6 years in prison.
Federal appeals court upholds 5.6B USD Visa and Mastercard settlement
The DOJ updates its guidance on corporate compliance programs
Founder and former FTX CEO arrested, indicted on eight fraud charges