Deepfakes, Tokenization, Open Data, Digital World, Crypto, and Data Use

This week, we begin with an article about how courts in the U.S. and U.K. are dealing with lawsuits filed by companies/individuals who had suffered a reputational loss as a result of deepfakes. Next, we have a piece on how Data Tokenization has been used to morph valuable data into a democratized asset. The following article explains how open data is assisting in the investigation of criminals involved in COVID-19 related crimes such as dog theft and fly-tipping. Following that, we have an article about mapping the world’s digital networks of satellites, submarine cables, and cell towers to mitigate the real-life threats of the digital world. Next is a piece about how the EU is working to establish an Anti-Money Laundering Authority (AMLA) to combat money laundering and crypto-enabled crimes. Finally, we have an article that highlights the potential risks posed to customers’ privacy due to brands’ use of first-party consumer data and how brands could regain public trust.

Reputation Management And The Growing Threat of Deepfakes

Reed Smith attorneys in New York and London look at how U.S. and U.K. courts are handling lawsuits brought by companies and individuals who have suffered reputational harms from digital and online deepfakes. Court decisions on the topic are scarce, but the growing use of AI for “face swapping” and speech synthesis portends more litigation. They offer a review of potential defenses.

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Data Tokenization: Morphing The Most Valuable Good Of Our Time Into A Democratized Asset

One can argue that everything – yes, everything – consists of data. Sensor data in the industry. Social media profiles. Health care operations. Any type of value exchange. The contexture of a surface – just to name a few. Hence it quickly becomes evident why data is the most valuable and crucial good of our time. Often we do not even realize that we (or IoT devices) produce data constantly, and even less do we realize that others quite often make money off of this data or leverage it to influence elections (e.g. Cambridge Analytica). Therefore we need changes within this industry. 

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Analysis: How Open Data Is Helping To Solve Covid-Related Crime

Openly accessible data and intelligence acquired from the internet is allowing concerned and affected individuals to unmask small-scale criminals responsible for crimes associated with the Covid-19 pandemic, including dog theft and fly-tipping. Covid-19 lockdown periods have been a boon for crime rates . In some areas, the decline in crime has been considerable.

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The Real-Life Risks of Our Digital World

If we didn’t know already, the COVID-19 pandemic has driven home the fact that data is the most important strategic asset of the 21st century. Never has the world depended more on digital data flows as when millions of workers and students switched to remote access and when online retail took the place of shuttered stores. As much as our digital interconnectedness is powering innovation, commerce, and interaction, it is also generating new risks and vulnerabilities.

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Crypto Exchanges In Europe May Have To Store All Transactional Data As Regulators Set Up A New Anti-Money Laundering Watchdog

The crypto industry has been around for quite some time, but governments are still wondering — how can one regulate an industry without borders? And, the European Union (EU) may have an idea. According to a report by Reuters, the EU is drawing up plans to set up a new agency to counter money laundering and create transparent rules for crypto exchanges and other businesses.

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Data Use By Brands Is Misunderstood—And It’s Time For Brands To Speak Out

Even before the pandemic forced more of our day-to-day lives online, people were becoming more conscious of the use of their data. In addition to this, more critical voices are calling it an unnecessary intrusion that offers people little value in return. That suspicion is at least partially the result of widespread confusion. 

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