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Recent Editions
Risk Channel
North America
Fraudsters attempted to steal at least $10m through Polymarket’s U.S. platform earlier this year by placing bets with stolen debit cards. The prediction markets platform's payment processor at one point rejected more than 80% of the deposits it handled as fraudulent, according to The Wall Street Journal. The company's CEO, Shayne Coplan, reportedly downplayed the incident to employees, instructing them to focus on growth now and deal with regulatory fines later. Polymarket says it has since strengthened its infrastructure and leadership. An investigation by the law firm Sullivan & Cromwell concluded the company had complied with regulations, according to people familiar with the findings. Separately, the FT reports that Polymarket is convening with European regulators to make the case that it should be regulated under financial services laws instead of local gambling statutes.
Full Issue
Risk Channel
UK/Europe
Prosecutors in Paris have launched at least one criminal investigation into suspected sexual harassment following complaints that people used smart glasses to film women on the street without their consent. The Paris prosecutor’s office tasked its cybercrime unit with testing smart glasses two weeks ago to better understand how the technology could be used to facilitate crime. France's data protection authority, CNIL, said it had received under 10 complaints concerning smart glasses being used in the workplace. CNIL's head of economic affairs Nacera Bekhat said smart glasses pose "real challenges" in terms of informing people that they are being filmed and getting consent when needed. AI-enabled wearable devices are regulated by the European Union's AI Act and the General Data Protection Regulation.
Full Issue
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“Over recent weeks as politicians signal that societies now need to live with Covid-19 and have announced the lifting of distancing restrictions some high-profile CEOs have publicly called for their workforces to re-embrace the office as the Covid pandemic threat recedes
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Back in the distant 1980s if you wanted to demonstrate your environmental and ethical credentials it was sufficient to shop at or purchase shares in retailer The Body Shop.
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