- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2023-03-07T13:30:00
In public remarks made over the last few years, multiple officials at the Department of Justice (DOJ) have said the agency is now using data analytics to detect criminal conduct—and that they expect compliance functions to be doing the same.
The idea of using data analytics for compliance purposes did not gain much traction until 2020, following publication of the DOJ’s revised “Evaluation of Corporate Compliance Programs” guidance. That guidance, in part, represented the first time the agency explicitly laid out its expectations compliance departments should be using data analytics to proactively monitor compliance risks.
In a recent webinar sponsored by EY, the chief compliance officers of Google and Uber offered insight into how their own data analytics compliance programs have evolved.
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The Dutch Data Protection Authority fined Uber 290 million euros (U.S. $323.7 million) for illegally transferring data on European drivers to American servers and failing to appropriately safeguard the transfers.
Alphabet, the parent company of technology giant Google, agreed to pay $350 million in a preliminary settlement with shareholders over alleged data privacy violations and materially false and misleading statements linked to now-defunct social media site Google+.
One of the ways the Department of Justice will assess a firm’s compliance program is by judging how accessible and visible a company’s data is to its compliance function, an agency official told attendees at Compliance Week’s 2023 National Conference.
Data governance has become a key concern for companies, especially when the EU AI Act and General Data Protection Regulation have put a premium on handling data responsibly and ensuring that artificial intelligence does not cause harm.
The era of artificial intelligence adoption is testing the old ways of doing compliance, underscoring the need for continuous monitoring. Compliance isn’t a one-and-done activity, but sometimes organizational incentives and goals fail to prioritize the importance of this.
While companies are exploring and building artificial intelligence technology, lawmakers and regulators are trying to identify what ground rules they need to set. These guardrails are what companies and governments alike believe are essential parts of ensuring safe and responsible use of the technology.
