Ismail Ramsey announced a crackdown on fraudulent activities by tech startups, targeting the 'fake it til you make it' culture prevalent in the sector.
Ramsey emphasized the need to address deceit among startups that mislead investors about crucial aspects like customer reach and revenue on the path to IPOs.
Ramsey warned about the susceptibility of emerging technologies like AI to exploitation by fraudsters making false claims about their products.
Jina Choi, known for her expertise in corporate crime investigation, was appointed by Ramsey to lead the team dedicated to uncovering securities and accounting fraud.
#fraudulent-activities #tech-startups #artificial-intelligence-sector #regulation #securities-and-exchange-commission
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