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Recent Editions
North America
Human Times
Canadian lender Toronto-Dominion (TD) Bank has told some staff in its financial crimes and risk management team that it would run software to track the time they spend on browsers and internal chat and meeting applications. TD said the deployment of such software is "standard practice across the industry . . . the tool allows managers to more accurately manage workflows, team capacity and performance. Where deployed, colleagues are informed about where they are used and for what purpose." Deanna Pacitti, TD's associate vice president of high-risk investigations, told her team on a call reviewed by Reuters: "The idea is it's going to show pain points, where do we spend too much time . . . We know we have a lot of pain points across our systems."
Full Issue
UK
Human Times
Official analysis reveals that today's graduates are set to earn nearly £80,000 less over their lifetimes than those who graduated 20 years ago, intensifying concerns over the value of higher education. An undergraduate completing studies in 2024 can expect lifetime earnings of £816,000, down £76,000 in real terms since 2004, while postgraduate earnings have also fallen. The findings suggest a shrinking "graduate premium" as wages for non-graduates rise faster and graduate employment prospects weaken. Only 57% of 2024 graduates were in full-time work 15 months after finishing.
Full Issue
USA
Education Slice
School districts across the United States are expanding family support services and revising safety protocols in response to heightened immigration enforcement activity and growing concerns among immigrant communities. Educators report increased demand for food assistance, transportation support, legal information, and emergency planning, as some families have avoided public spaces or kept children home from school out of fear of encounters with immigration authorities. Districts including St. Paul, Minnesota, and Montgomery County, Maryland, have partnered with community organizations, trained staff on responding to immigration-related incidents, and developed contingency plans for families facing detention or deportation proceedings, while school leaders warn that responding to these challenges is diverting time and resources away from teaching and learning.
Full Issue
USA
Accountancy Slice
A new report from TIGTA has raised concerns about the reliability of the IRS’ chatbot and live chat services, warning that inaccurate or incomplete responses could lead taxpayers to file incorrect tax returns. The review found that many live assistors handled multiple chats simultaneously, potentially increasing the risk of errors and improper disclosure of taxpayer information, while automated chatbots frequently failed to recognize common questions or provide sufficient answers. TIGTA also questioned the reliability of the IRS’s performance data, citing reporting anomalies, and found that the agency has not adequately evaluated the effectiveness of its chat programs despite expanding them in recent years. The watchdog issued nine recommendations to improve oversight, data accuracy, and performance measurement, all of which the IRS agreed to implement or has already begun addressing.
Full Issue
Scotland
Legal Matters Scotland
Former SNP chief executive Peter Murrell is due to be sentenced at the High Court in Edinburgh today after admitting embezzling more than £400,000 from the party. He is facing a substantial jail term. Meanwhile, former MP Joanna Cherry has said Murrell’s embezzlement may be "the tip of the iceberg". She said concerns about the SNP’s finances predated the criminal case and centred on a controversial independence referendum fund. Cherry said "I didn’t suspect criminality. But I, along with many other members of the party at that time, were concerned about what had happened to a fund that had been raised not just from SNP members, but also from members of the public to fund a second independence referendum."
Full Issue
North America
Legal Slice
A federal judge has dismissed a lawsuit from the Trump administration aimed at blocking Los Angeles' sanctuary city law. U.S. District Judge Fernando M. Olguin ruled that allegations that the city ordinance violates the intergovernmental immunity doctrine by regulating and discriminating against the federal government were “insufficient to establish that the Ordinance violates the intergovernmental immunity doctrine.” The ordinance prevents city resources from being used for immigration enforcement, and aims to encourage victims and witnesses of crime to report incidents without fear of deportation. L.A. City Attorney Hydee Feldstein Soto celebrated the ruling, saying: “This order reinforces the well-established principle that local governments have the authority to decide how to use their personnel and resources.” The Trump administration has until July 3 to file an amended complaint.
Full Issue
Europe
Risk Channel
Powerful AI models that are capable of devastating cyber attacks on governments and companies may succeed within months, according to the leaders of intelligence agencies from the Five Eyes nations – Australia, Canada, New Zealand, the US and the UK. A rare joint warning by the alliance said that while AI “would help us improve cyber defence over time, it also accelerates the speed, scale, and sophistication of cyber threats . . . Frontier AI models are anticipated to exceed current industry expectations, fundamentally transforming both offensive and defensive cyber capabilities. The timeline is not years, it is months.” The Five Eyes agencies added: “In this environment, cyber resilience is integral to advancing business continuity, market confidence, and long-term value . . . Cyber risk can no longer be treated as a purely technical issue. This is a core business risk and leadership responsibility.”
Full Issue
North America
CFO Slice
Executive compensation reached record levels in 2025, with a growing number of U.S. chief executives receiving pay packages worth more than $100m, driven largely by massive stock-based awards tied to ambitious long-term performance targets. According to the Wall Street Journal’s annual analysis, median CEO pay at S&P 500 companies rose to a record $17.9m, while nearly a dozen executives received packages exceeding $200m. Welltower CEO Shankh Mitra ranked among the highest-paid leaders with compensation valued at $821m, primarily through long-term stock grants, while Tesla CEO Elon Musk’s $158bn package dwarfed all others. The surge reflects the increasing use of “moonshot” compensation plans designed to reward executives for achieving aggressive growth and shareholder value targets, although the report noted that high pay levels often showed little correlation with company stock performance.