- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2024-07-24T13:19:00
Eight large companies, including Mastercard and JPMorgan Chase, have been ordered by the Federal Trade Commission (FTC) to provide detailed reports about their possibly secret use of artificial intelligence (AI) to track customers and use the information to set prices.
The FTC alleged that many companies, from retailers to banks, are using surveillance technology and private data about customers, often collected by third parties, to help set prices for their products.
The FTC will use the reports to understand any impacts that the surveillance has on the price of products, and also the types of data the companies or third parties are collecting about people.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
The Federal Trade Commission took aim at the business models of some of the world’s largest companies, publishing a years-long study that decried technologies that have created “vast surveillance” networks that expose people to “a host of harms” and violate children’s privacy laws.
Sorenson Communications agreed to pay $34.6 million and implement a comprehensive compliance program to settle allegations levied by the Federal Communications Commission that its subsidiary illegally retained call content of users who relied on captions to make and receive calls.
The Federal Trade Commission ordered anonymous messaging app creator NGL Labs and its two founders to pay $5 million for unfairly marketed to children and falsely claiming artificial intelligence filtered out bullying messages and threats.
The European Union’s Digital Markets Act is forcing many Big Tech companies to postpone the launch of artificial intelligence-powered features, like Apple Intelligence, over user privacy and data security concerns.
Location-based dating apps are not doing enough to protect user privacy, with exact location and other personal data being exploited by stalkers and bad actors, a recent analysis found.
Michael Macko, deputy director of enforcement at the California Privacy Protection Agency, described priorities for the agency now and in the near future during a recent board meeting.
