- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2024-05-23T20:54:00
The Federal Communications Commission (FCC) proposed a $2 million fine against Texas-based Lingo Telecom for facilitating robocalls that used artificial intelligence (AI) to fake President Joe Biden’s voice after the company’s chief compliance officer was warned in February.
The first-of-its-kind enforcement action charged the company with violating the FCC’s caller ID authentication rules, the agency announced in a press release Thursday. In a related action, the FCC proposed a $6 million fine against political consultant Steve Kramer, who engaged several companies, including Lingo, to transmit the calls.
In February, the FCC’s enforcement bureau issued a cease-and-desist letter to the company’s chief compliance officer, Alex Valencia, warning that failure to comply “may result in downstream providers permanently blocking all of Lingo’s traffic.”
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The Federal Communications Commission fined telecommunications giants T-Mobile, Sprint, AT&T, and Verizon a total of approximately $196 million for allegedly selling customers’ location data to third parties without consent.
AT&T said personal account data on approximately 73 million current and former customers was released on the dark web two weeks ago but has not yet identified when and where the breach occurred.
TikTok and X are under investigation related to their respective compliance with the European Union’s Digital Services Act, while the first three companies probed under the Digital Markets Act include Apple, Alphabet, and Meta.
Capital One promised very high interest rates on millions of savings accounts but the bank didn’t deliver, losing customers more than $2 billion, the Consumer Financial Protection Bureau alleged.
Robinhood, a disruptive force in the market for Main Street investors but also a serial offender of securities laws, will pay a total of $45 million to settle numerous violations of SEC rules and regulations by two of its broker-dealers.
A broker-dealer subsidiary of Toronto-based BMO Financial Group will pay nearly $41 million in penalties to the Securities and Exchange Commission to settle allegations that its traders issued misleading disclosures on bonds for three years, causing $19 million in harm to its customers.
