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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. 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.
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.
2024-11-14T20:36:00Z By Adrianne Appel
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network issued an alert to financial institutions about their obligations to report deepfakes, warning artificial intelligence has given bad actors additional tools in their arsenal.
2024-07-31T15:31:00Z By Adrianne Appel
A nationwide rental outlet affiliated with Rent-a-Center and its chief executive have been sued by the Consumer Financial Protection Bureau for allegedly deceiving five million consumers about the terms of credit agreements.
2024-07-24T17:54:00Z By Neil Hodge
A lack of risk visibility is causing companies to reject customers–and potentially lose money–over fears they might be in danger of violating rules around anti-money laundering and sanctions regulations.
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