GRC Report Staff

The UK’s Serious Fraud Office (SFO), France’s Parquet National Financier (PNF), and the Office of the Attorney General of Switzerland (OAG) have announced the creation of a new alliance aimed at strengthening efforts to tackle international bribery and corruption. This new partnership, unveiled at a press event in London today, marks a significant step forward in global cooperation to combat financial crime.

Today, the European Banking Authority (EBA) took a step forward in tracking climate-related risks within the EU banking sector. With the release of its new climate risk monitoring dashboard, the EBA is shedding light on just how exposed European banks are to the changing climate landscape—and how well prepared they are to manage the financial implications.

Hino Motors Ltd., a subsidiary of Toyota, has been sentenced to pay over $1.6 billion in penalties for its role in a widespread emissions fraud scheme. This sentencing, handed down today by U.S. District Court Judge Mark A. Goldsmith, comes after Hino Motors pleaded guilty to submitting false emissions data, deceiving both U.S. regulators and consumers over the course of nearly a decade.

The Office of the Comptroller of the Currency (OCC) is back in action this month, rolling out a series of enforcement decisions that highlight the agency’s ongoing commitment to ensuring the health and safety of financial institutions. The agency’s latest actions range from enforcing accountability at individual banks to taking decisive steps against those who breach trust.

The Financial Conduct Authority (FCA) has imposed a £9.2 million fine on the London Metal Exchange (LME) for failing to ensure its systems and controls were adequate to handle severe market stress, marking the first-ever enforcement action and fine against a UK-recognised investment exchange.

As technology evolves, so do the tactics of fraudsters. The Commodity Futures Trading Commission’s (CFTC) Office of Customer Education and Outreach (OCEO) has issued a timely warning about a growing threat: criminals are using generative artificial intelligence (AI) to create fraud that’s increasingly difficult to detect. In its latest advisory, Criminals Increasing Use of Generative AI to Commit Fraud, the OCEO highlights how this emerging technology is making it easier than ever for bad actors to create fake identities, convincing social media profiles, and even fraudulent financial platforms—posing significant risks to consumers and businesses alike.

The European Commission is cracking down on two of the tech world’s biggest names, Alphabet and Apple, under the Digital Markets Act (DMA). These actions come as part of a larger effort to ensure that the digital marketplace stays fair, competitive, and innovative—especially for the smaller players who rely on these platforms to reach customers. Let’s dive into what’s happening with both companies.