The U.S. government launches a new cybercrime unit focused on AI-related frauds, cryptocurrency, and other scams.
A new Unit of Cybertechnologies and Emerging Technologies (CETU) is introduced.
The U.S. Securities and Exchange Commission (SEC) has launched its new Cyber and Emerging Technologies Unit (CETU), which replaces the former Cryptocurrency and Cybersecurity Unit established three years ago. Laura D'Allaird, who served as co-director of the previous unit, has been appointed as the new head of CETU.
The primary goal of this new unit is to safeguard retail investors from cybercrimes in a rapidly evolving technological landscape. Approximately 30 fraud specialists and attorneys from various SEC offices will be in charge of CETU.
Interim Chairman Mark T. Uyeda emphasized that under D'Allaird's leadership, the unit will complement the work of the Crypto Task Force, led by Commissioner Hester Peirce. He also highlighted the importance of this unit in the efficient use of law enforcement resources to eliminate those attempting to exploit innovation to the detriment of investors and confidence in new technologies.
CETU will comprise a team with considerable expertise in fintech and cybersecurity, enabling them to address fraud associated with emerging technologies such as artificial intelligence and machine learning. The unit will also handle crimes occurring on social media, the dark web, hacks, account takeovers, blockchain, and cryptocurrencies, among other areas.
The launch of CETU coincides with the establishment of a new cryptocurrency task force, also led by Hester Peirce, which aims to create a sensible regulatory pathway that respects legal boundaries. Uyeda summarized that the unit will not only protect investors but also facilitate capital formation and market efficiency, allowing innovation to thrive. D'Allaird expressed her enthusiasm on LinkedIn for leading this new initiative.