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Weekly News Roundup: Danske Bank Money Laundering, EU Antitrust Action Against Google

Danske Bank investors sue for damages over money laundering scandal

Grant & Eisenhofer P.A. and DRRT have filed a lawsuit in Copenhagen on behalf of investors from 19 countries, asserting “fraud claims stemming from a massive Russian money-laundering scheme and multi-year cover-up” by Danske Bank. The investors are seeking US$475 million in damages.

Finland will probe whether Nokia-branded phones illegally sent data to China

Finland's data protection ombudsman said he would launch an investigation into whether Nokia-branded phones breached data rules after a report issued alleging that the handsets sent information to China. Nokia-branded mobile phones are manufactured under license by Finnish company HMD Global.

Norwegian public broadcaster NRK reported a data breach related to the Nokia 7 Plus model, stating that HMD had “admitted that an unspecified number of Nokia 7 Plus phones had sent data to the Chinese server.” But HMD said no personal data had been shared with a third party although it said there had been a data software glitch, that had since been fixed, with one batch of handsets.

Google offers concessions to head off EU antitrust action

The European Union ordered Google to pay €1.49 billion euros for stifling competition in the online advertisement sector. The European Commission said Google had placed exclusivity contracts on website owners, stopping them from including search results from Google’s rivals.

This is the third antitrust fine from Brussels against the search engine giant. Last July, regulators in Brussels hit the Alphabet unit with a US$5 billion fine for abusing the dominance of its Android mobile operating system.

Google lets phone makers use the open-source Android software for free, but the EU accused it of benefiting its own services, including forcing phone makers to bundle Google products like Search, Maps, and Chrome with its app store, Play.

In a March 19 blog post, Walker said Android customers in the EU will now be asked which search engine and browser apps they would like to use instead.

Norsk Hydro suffers extensive cyberattack

Norsk Hydro ASA, one of the world's biggest aluminum producers, is experiencing production outages after a cyberattack impacted operations across Europe and the United States. Some operations have moved to a manual mode.

Cyberattacks have become a major threat to the highly integrated global supply of metals and minerals. Zinc smelter Nyrstar suffered a major intrusion targeting processing and mining operations earlier this year, while A.P. Moller-Maersk A/S, the owner of the world's biggest container shipping company, lost up to US$300 million because of a cyberattack in June.

Brazil airport auction serves as litmus test for privatization plans

Flughafen Zurichand Aena SME won concessions to operate airports in Brazil. Infrastructure Minister Tarcisio Gomes de Freitas said the auction was just one of the government's initiatives to stimulate the sector.

The tender offer was seen as a test of the appeal of investors toward President Jair Bolsonaro's business-friendly agenda, which includes a massive privatization plan.

About the Author

Wendy R. Leibowitz is a freelance contributor. Her work has appeared in the National Law Journal, American Lawyer Register, and Chronicle of Higher Education.


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