- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2024-03-01T12:00:00
Federal agencies, including the Securities and Exchange Commission (SEC), Department of Justice (DOJ), and Federal Trade Commission (FTC), are taking every opportunity to warn firms that how they use—and represent their use of—artificial intelligence (AI) could result in violations.
“AI washing” has become a popular way to describe a firm or company making exaggerated claims about what its AI can do in order to boost profits and lure investors.
“Fraud is fraud, and bad actors have a new tool, AI, to exploit the public,” said SEC Chair Gary Gensler in remarks delivered at Yale Law School on Feb. 13.
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2024-10-11T13:44:00Z By Jeff Dale
The Securities and Exchange Commission ordered the owner of Rimar Capital and a board member of its holding company to pay nearly $524,000 in penalties for defrauding investors with false and misleading statements about its use of artificial intelligence.
2024-04-16T19:09:00Z By Aaron Nicodemus
Gurbir Grewal, director of the Securities and Exchange Commission’s Division of Enforcement, laid out general principles for “proactive compliance” to avoid making false or misleading claims about the capabilities of artificial intelligence products and services.
2024-04-11T13:00:00Z By Kyle Brasseur
Compliance officers took to the main stage to share their experiences at Compliance Week’s 2024 National Conference, while other highlights included conversations around artificial intelligence and the modern challenges the industry is confronting.
2025-03-10T20:56:00Z By Adrianne Appel
The public reported a 25 percent increase in losses–totaling more than $12.5 billion in 2024–to investment scams, tech rip-offs, and general fraud, according to an analysis by the Federal Trade Commission.
2025-01-08T17:13:00Z By Jeff Dale
Portuguese bank Novo Banco, S.A., fired Chief Risk Officer Carlos Jorge Ferreira Brandão “with just cause” after an internal probe discovered “suspicious financial transactions” in his sphere.
2024-12-30T14:57:00Z By Aaron Nicodemus
A prominent risk management firm has issued its predictions for the top five risks for business in 2025, along with guidance for how organizations should prepare and respond.
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