Orrick, Herrington & Sutcliffe LLP’s Post

Deepfake videos, with their increasing realism, are becoming a grave concern 📹. As these manipulated videos become more prevalent and convincing, we risk eroding public trust in video and audio media. The challenge is determining what's genuine and what's not. One alarming potential use of deepfakes is for malicious activities, such as identity theft or financial fraud 😱. Today, many processes - from loan applications and digital signatures to credit card applications and even account openings - are heavily reliant on Video KYC. Therefore, the implications are far-reaching, requiring a complete policy overhaul at the level of ministries and regulatory bodies like the RBI 🏦. Deepfakes also bring to the fore significant legal and ethical dilemmas. The use of someone's likeness without consent, especially in deceptive or harmful ways, is a critical concern ⚖️. Addressing this issue requires comprehensive measures. Governments should consider enacting laws against creating or distributing harmful deepfakes, providing a legal framework to counter misuse 📜. Investment especially at University Level is needed in research and development to devise tools capable of detecting deepfakes. By harnessing machine learning and AI, we could potentially spot inconsistencies in videos and audios that suggest manipulation 🧪. Finally, this challenge calls for collaboration - Tech companies, researchers, and policymakers need to work together to establish standards and best practices to mitigate the impact of deepfakes effectively. The threat is real, but through concerted efforts, we can rise to meet it 👥.

The U.S. Department of Justice warns of harsher penalties for those who deliberately misuse #artificialintelligence #AI technology to commit white collar offenses, such as price fixing and market manipulation. The time is now to invest in corporate compliance programs that prohibit and prevent this AI misuse. Read more below: Ephraim (Fry) Wernick, Brian Howard, and Pete Thomas.

The future implications of AI can be felt most everywhere including when it is not overtly discussed. Here are three examples. #news #ainews #ai #artificialintelligence #aiupdates #intellectualproperty #intellectualpropertylaw #defamation

Great insights here from Matt Kelly - on how AI Enforcements are here... and what Compliance Professionals need to be thinking about. AI Governance is in the regulators' cross hairs. They have made this clear. In a recent speech to the American Bar Association’s 39th National Institute on White Collar Crime,  Deputy Attorney General Lisa Monaco,  stated: “And compliance officers should take note. When our prosecutors assess a company’s compliance program — as they do in all corporate resolutions — they consider how well the program mitigates the company’s most significant risks. And for a growing number of businesses, that now includes the risk of misusing AI." Compliance officers can expect to see updates to the DOJ’s  guidance on Evaluation of Corporate Compliance Programs to include assessment of disruptive technology risks — including risks associated with AI. .....And here we see enforcement actions emerging. https://lnkd.in/gkgCS_ag

📈 AI enforcement is on the rise. The SEC recently charged two financial firms for misleading statements about their use of artificial intelligence. Delphia (USA) Inc. and Global Predictions Inc. were fined $400,000 in total. 🔍 Dive into our blog as we analyze this case and explore the necessary compliance program capabilities for companies to navigate similar situations. Stay informed and stay compliant. Read now: https://lnkd.in/efpQtC3i #AIenforcement #SEC #compliance #artificialintelligence #businessethics 

Another highly important step in the #AI regulatory field - US lawmakers introduce NO AI FRAUD ACT to tackle Deep Fakes and safeguard Intellectual Property Rights. More details are below in the article. #airegulations #responsibleai #humancentric

U.S. Lawmakers Introduce Bill to Combat AI Deepfakes… We will globally see a fast growing number of specific regulations for AI and its various use cases on top of the more general regulations. The pure number as well as potential overlaps of these regulations will become a tough challenge for companies applying AI. Thanks for sharing BABL AI

Fraud, the unending joy of the Internet [Not!!] I wrote about it back in 2004 on People and Machines Talking Together (which is posted on here). I wondered back then if it would occur to such an extent that people would lose confidence in the Internet as a place to buy and sell. Of course things have moved on and the confidence is there. But so is the fraud. Can AI help? So far, the majority of comments have been on how AI can create identify fraud and content fraud (hence the concerns of performance artists). But can AI positively combat much of the fraud most of us get targeted with today? Yes, it is arguably already a factor in the classification of communications we receive, but I believe it can do much more. A more active role in monitoring, but with a consequential increase in intrusiveness. It needs a debate on whether such protection is acceptable and what are the limits we want on AI personal or business-level protectiveness.

The growing use of AI in committing fraudulent activity has been laid bare by a new report examining the state of financial crime. Research carried out by ComplyAdvantage has identified criminal use of artificial intelligence as one the most serious emerging fraud challenges, while revealing that most financial institutions are investing in the necessary technology – including AI – to combat this growing threat. Read more https://lnkd.in/gFF4G5uc #AI #fraud