Login

News on Medial

US justice department to target pre-IPO artificial intelligence frauds: top attorney

Economic TimesEconomic Times · 8m
US justice department to target pre-IPO artificial intelligence frauds: top attorney

The US Justice Department in San Francisco is targeting AI and tech startups committing fraud before going public, according to federal prosecutor Ismail Ramsey. Given the office's proximity to Silicon Valley, Ramsey believes they are well-positioned to crack down on startups misleading investors on the path to initial public offerings. Startups often use deceptive tactics to generate interest in prospective offerings, such as exaggerating customer reach, revenue, and product readiness. Ramsey also highlighted AI as an area prone to false and exaggerated claims by fraudsters. The government has been increasing scrutiny of AI, with the SEC recently fining two investment advisers over AI-related statements.

2
View Source

Comments

More Like this

US Justice Department to announce antitrust action

US Justice Department to announce antitrust action

US Justice Dept names first AI officer as new technology challenges law enforcement

US Justice Dept names first AI officer as new technology challenges law enforcement

Apple met with DOJ officials to avoid antitrust lawsuit

Apple met with DOJ officials to avoid antitrust lawsuit

Explainer: Why the few big AI players worry US antitrust regulators

Explainer: Why the few big AI players worry US antitrust regulators

OpenAI, Microsoft’s Partnership May Be Killed Off Before the Dawn of AGI

OpenAI, Microsoft’s Partnership May Be Killed Off Before the Dawn of AGI

A Google engineer ran a secret startup in China while stealing AI technology, DOJ alleges

A Google engineer ran a secret startup in China while stealing AI technology, DOJ alleges

Nvidia sheds $279 billion in market cap: reasons behind the fall

Nvidia sheds $279 billion in market cap: reasons behind the fall

Federal regulators grant antitrust probe into Microsoft, OpenAI and Nvidia

Federal regulators grant antitrust probe into Microsoft, OpenAI and Nvidia

Why Silicon Valley Falls for Frauds

Why Silicon Valley Falls for Frauds

As regulators close in, Nvidia scrambles for a response

As regulators close in, Nvidia scrambles for a response

Download the medial app to read full posts, comements and news.