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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2024-02-15T17:27:00
The Department of Justice (DOJ) will seek stiffer penalties in cases where the threat of misconduct was greater because of misuse of artificial intelligence (AI), according to the agency’s No. 2 official.
Deputy Attorney General Lisa Monaco addressed the technology in remarks delivered at Oxford in the United Kingdom on Wednesday. She said AI will become a top focus area for the agency’s Disruptive Technology Strike Force, which includes representatives of the Commerce Department’s Bureau of Industry and Security and works to enforce export control laws.
“[W]e need to zero in on AI to make sure it’s not used to threaten U.S. national security,” she said. “So, going forward, that strike force will place AI at the very top of its enforcement priority list. After all, AI is the ultimate disruptive technology.”
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News and analysis for the well-informed compliance or audit exec.
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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.
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The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
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