The IRS has a massive volume of tax returns and financial data to analyze each year, making it impractical to manually review every single return for potential issues or discrepancies. AI and machine learning techniques allow the IRS to efficiently sift through this vast amount of data and identify high-risk returns or areas that warrant … Read more
In a new call to action, the Biden administration is urging technology companies and other stakeholders to take voluntary measures to curb the rapidly growing issue of image-based sexual abuse, including abusive content generated using artificial intelligence. Recognizing that this form of gender-based violence disproportionately harms women, girls and LGBTQI+ people, the White House is … Read more
Ivan Boesky’s story came to an end on May 20, 2024, when he passed away at the age of 87. His legacy, however, lives on in the transformed landscape of securities regulation, a constant reminder of the consequences of greed and the SEC’s commitment to maintaining fair and transparent markets. In the 1980s, the name … Read more
New Jersey has established itself as a privacy trailblazer. On January 16th, Governor Phil Murphy signed the state’s first comprehensive consumer data privacy law into effect. With this new Act, New Jersey becomes the 13th state with an omnibus privacy statute and the first to pass such a law in 2024. The New Jersey privacy … Read more
The U.S. Department of Justice and a coalition of over a dozen states have filed a major antitrust lawsuit against Apple, accusing the tech giant of illegally maintaining a monopoly in the smartphone market. The legal battle will serve as a high-stakes test case for how U.S. antitrust laws drafted over a century ago can … Read more
On March 28, 2024, the White House moved to ensure the responsible development and use of artificial intelligence across the federal government. Vice President Kamala Harris announced the Office of Management and Budget issuance of the first-ever government-wide policy framework to mitigate the risks and harness the benefits of AI systems deployed by federal agencies. … Read more
The Corporate Transparency Act (CTA) was signed into law as part of the National Defense Authorization Act. The goal of this legislation is to make information about who really owns or controls certain corporations and limited liability companies more readily available to law enforcement. Why? To crack down on the use of shell companies in … Read more
The use of AI can provide significant benefits for the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) in managing the Corporate Transparency Act (CTA). However, there are potential dangers and risks that need to be carefully addressed. AI models can perpetuate or amplify existing biases in the training data, leading to discriminatory outcomes or … Read more
A Federal District Court in Alabama just issued a decision finding the Corporate Transparency Act (CTA) unconstitutional in the case of National Small Business United v. Yellen. The court ruled that in enacting the CTA, Congress exceeded its Constitutional powers, including its authority to regulate interstate commerce. Specifically, the court agreed with plaintiffs that while … Read more
• A profusion of classified documents was found • • In Uncle Joe’s house and The Donald’s compound • • Forty Five had the gall • • And Forty Six played ball • • Boy, there sure are a lot of top secrets floating around •
There was a young man called George Santos / Whose life was a series of scant hopes / Thought he, “nothing can beat / A congressional seat” / So he lied and he lied, and he lied and he lied, and he lied and he lied, to the utmost