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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2023-02-02T17:31:00
Companies are at serious risk of facing multiple fines for the same offense under different sets of legislation if the artificial intelligence (AI) technologies they employ misuse personal data or cause harm to consumers, according to legal experts.
When the European Union put forward both the General Data Protection Regulation (GDPR) and the first network and information systems directive in 2016, there was fear businesses could be placed in “double jeopardy,” or penalized twice for the same incident if they breached both sets of rules.
Regulators downplayed the possibility, but legal experts believe such an event is now more likely as the GDPR has the potential to overlap with a growing number of other laws. Within the European Union, the Digital Services Act, Data Act, and AI Act each cover similar territory to the GDPR and could be utilized in different ways by different countries.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
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Our lowest price ($1 per day) for one year.
2023-02-28T20:35:00Z By Adrianne Appel
The Federal Trade Commission is keeping close watch on companies that use the term “artificial intelligence” when marketing their products.
2022-12-12T17:20:00Z By Aly McDevitt
A panel of experts at CW’s virtual TPRM and Oversight Summit offered a how-to primer on using data analytics to monitor third-party risk while also highlighting some caveats to implementation.
2022-10-17T15:18:00Z By Neil Hodge
The EU’s agency for occupational safety and health released a report examining the risks and opportunities of AI-based worker management systems for employee’s physical and mental wellbeing.
2024-06-28T19:30:00Z By Jeff Dale
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
2024-06-20T15:40:00Z By Aaron Nicodemus
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
2024-06-07T22:34:00Z By Adrianne Appel
Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.
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