All articles by Adrianne Appel – Page 14
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News BriefFTC attorney says agency concerned with generative AI use
The Federal Trade Commission is closely tracking company use of artificial intelligence tools for possible rule violations involving deception, discrimination, excessive manipulation, or unfairness.
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News BriefCrypto exchange Poloniex to pay $7.6M in OFAC sanctions case
Cryptocurrency exchange Poloniex agreed to pay nearly $7.6 million as part of a settlement with the Office of Foreign Assets Control for engaging with more than 200 customers across a handful of sanctioned regions.
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News BriefSEC reopens comment period on beneficial ownership proposal
The Securities and Exchange Commission reopened the comment period on proposed changes to “modernize” its beneficial ownership rule, including shortening certain filing deadlines.
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News BriefMastercard facing DOJ probe into debit practices
Mastercard said it is under investigation by the Department of Justice’s Antitrust Division regarding the company’s debit card program and competition with other payment networks and technologies.
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News Brief
Attorney pleads guilty to aiding sanctioned Russian oligarch
New York attorney Robert Wise faces up to five years in prison after pleading guilty to making payments to maintain U.S. properties secretly owned by sanctioned Russian oligarch Viktor Vekselberg.
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News BriefU.S. authorities reiterate enforcement focus on AI discrimination
Officials at four U.S. agencies warned they are prepared to act against bias or discrimination that involves artificial intelligence.
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News BriefIRB Brasil to pay shareholders $5M over CFO’s claims
Brazilian reinsurance company IRB Brasil RE agreed to pay $5 million to harmed investors after its former chief financial officer allegedly lied about Berkshire Hathaway investing in the company.
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News BriefL3 Technologies to pay $21.8M over false claims to DOD
Utah-based military equipment manufacturer L3 Technologies agreed to pay $21.8 million to settle false claim charges levied by the Department of Justice regarding double-billing the Department of Defense for certain parts.
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News BriefEU lawmakers float changes to AI Act to account for ChatGPT
The European Union’s draft law to regulate artificial intelligence must be updated to include overarching controls on chatbots like ChatGPT, a group of European Parliament members wrote in an open letter.
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News BriefHHS teases policy changes stemming from cyber resiliency analysis
Some U.S. hospitals are falling short in protecting themselves from cyberattacks, with 29 percent of facilities recently surveyed lacking a documented GRC system, a new report from the Department of Health and Human Services found.
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News BriefAdobe to pay $3M over government kickback allegations
Adobe agreed to pay $3 million to settle allegations it paid kickbacks in an attempt to win more software purchase orders from the federal government.
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News BriefEDPB task force latest scrutinizing ChatGPT, AI accountability
The European Data Protection Board is the latest regulatory body assessing the applicability of ChatGPT amid skyrocketing data privacy concerns regarding the popular artificial intelligence platform.
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News Brief
Infinity Q founder sentenced to 15 years for fraud scheme
The former chief investment officer and founder of investment adviser Infinity Q Capital Management was sentenced to 15 years in prison and ordered to forfeit $22 million for artificially inflating the values of certain derivatives to defraud investors.
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News BriefFormer Celadon COO, CFO settle SEC accounting fraud charges for $50K
Two former executives of trucking company Celadon Group each agreed to pay $50,000 to settle charges levied by the Securities and Exchange Commission they engaged in accounting fraud to inflate the company’s earnings.
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DOJ: Former Magellan quality control director, execs misled public over lead tests
The former director of quality assurance at Magellan Diagnostics allegedly conspired with executives to conceal a critical flaw in lead tests they knew would result in tens of thousands of false negative tests among lead-exposed children.
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PremiumAs final CPRA rules trickle out, a reminder companies must ‘grow with the law’
If companies haven’t started the process of coming into compliance with the California’s sweeping new privacy law, they need to begin now.
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News BriefTikTok fined $15.9M for violations of U.K. GDPR
Social media platform TikTok was fined £12.7 million (U.S. $15.9 million) by the U.K. Information Commissioner’s Office for using the personal data of children without parental consent and other violations of data protection mandates.
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News BriefChatGPT exits Italy after GDPR violation warning
The Italian data protection authority shut down ChatGPT in the country, alleging the AI chatbot violates European Union privacy laws and has no controls to stop it interacting inappropriately with young children.
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News BriefEx-CCO of Rochester Drug Co-operative spared jail time after testifying
The former chief compliance officer of Rochester Drug Co-operative received no jail time after pleading guilty to aiding widescale opioid distribution and testifying against his former chief executive officer.
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DOJ: Covenant Healthcare paid $69M in 2021 false claims settlement
Michigan-based Covenant Healthcare System paid $69 million to settle whistleblower allegations it engaged in illegal referral and kickback schemes.