3 Interesting Articles
The FTC’s biggest AI enforcement tool? Forcing companies to delete their algorithms
CyberScoop: The Federal Trade Commission (FTC) is utilizing an enforcement strategy known as algorithm disgorgement or model deletion to regulate the expanding artificial intelligence industry. This strategy requires companies to delete products that have been built using improperly obtained data. The FTC has employed this tool in five cases since 2019, most recently involving Amazon in two settlements involving privacy law violations. Experts argue this tactic is effective, as it directly impacts a company’s business model rather than simply imposing fines. FTC officials have indicated that, while the use of AI technologies is increasing, these systems must still abide by existing laws and regulations.
SolarWinds chief vows to fight any legal action from US regulators over alleged Russian hack
CNN: The U.S. Securities and Exchange Commission (SEC) has informed SolarWinds, a U.S. software firm, of its intent to recommend civil enforcement action against the company for alleged violations of federal securities laws in connection with the 2020 cybersecurity breach attributed to Russian hackers. Despite the company’s cooperation with the SEC, SolarWinds CEO Sudhakar Ramakrishna expressed disagreement with the SEC’s stance, according to an internal email. The cybersecurity breach, which involved hackers using SolarWinds software to infiltrate U.S. government agencies, has since led to significant criticism of SolarWinds’ security practices and has prompted the company to implement numerous security reforms. While the SEC’s action could potentially result in fines or other penalties for SolarWinds, the company maintains that it responded appropriately to the breach.
Online romance scams are netting millions of dollars — and pushing some to self-harm
NBC News: Norm Jones, a 54-year-old cybersecurity professional from Silicon Valley, fell victim to a devastating online romance scam that resulted in a loss of $250,000 and an attempted suicide. Cybersecurity experts warn that this type of scam, which sees criminals convincing their victims to invest their savings into fake schemes, is on the rise and is connected to increasing rates of self-harm. In 2022 alone, victims reported losing a total of $3.3 billion, more than double the losses reported in 2021. Amid this growing crisis, professionals are calling for increased awareness and support for victims. Jones, now recovering, aims to share his story to help prevent others from suffering the same ordeal.
2 Stats You Should Know
82% of Americans and 91% of tech experts support government regulation around AI. (source)
More than $922 million worth of cryptocurrency assets were stolen in the first half of 2023. (source)
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