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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2024-03-07T19:11:00
The Department of Justice (DOJ) is working on an update to its Evaluation of Corporate Compliance Programs (ECCP) guidance to spell out the responsibilities of compliance staff for managing artificial intelligence (AI)-related risks.
Deputy Attorney General Lisa Monaco announced the impending change in remarks delivered at an American Bar Association event Thursday. She said she directed the Criminal Division to “incorporate assessment of disruptive technology risks, including risks associated with AI,” into the next update to the ECCP.
“When our prosecutors assess a company’s compliance program—as they do in all corporate resolutions—they consider how well the program mitigates the company’s most significant risks. And for a growing number of businesses, that now includes the risk of misusing AI,” Monaco said. “That’s why, going forward and wherever applicable, our prosecutors will assess a company’s ability to manage AI-related risks as part of its overall compliance efforts.”
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
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2024-06-03T08:58:00Z By Kyle Brasseur
The Department of Justice’s Antitrust Division is examining how its policies and enforcement mechanisms are suited to handle potential issues brought about by the proliferation of use of artificial intelligence.
2024-05-07T10:50:00Z By Jaclyn Jaeger
Prudent chief compliance officers should ensure artificial intelligence-related risks are being properly addressed at their businesses considering growing scrutiny being paid to the technology by the Department of Justice.
2024-04-18T20:42:00Z By Kyle Brasseur
With senior-level decisions on technology only increasing in frequency as new tools rapidly evolve, a panel at Compliance Week’s 2024 National Conference agreed compliance must consider the opportunities available to influence those conversations.
2024-12-02T22:55:00Z By Aaron Nicodemus
In striking down penalties against cryptocurrency mixer Tornado Cash for violating U.S. sanctions, a federal appeals court may have started to chip away at anti-money laundering regulations established by Democrats even before President-elect Donald Trump takes office.
2024-11-25T19:18:00Z By Aaron Nicodemus
The Department of Justice has added antitrust compliance guidance in an update to its Evaluation of Corporate Compliance Programs.
2024-11-25T18:30:00Z By Aaron Nicodemus
Change is likely coming to the Securities and Exchange Commission’s enforcement priorities with the pending handover of the White House to Republican President-elect Donald Trump. Adjust your compliance priorities accordingly.
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