Michaela
The U.S. Securities and Exchange Commission (SEC) has unveiled a dedicated unit aimed at combating crypto fraud and cyber crimes, with a focus on protecting retail investors in emerging technology sectors.
A recent press release announced the creation of the Cyber and Emerging Technologies Unit (CETU), led by Laura D’Allaird. The new division, which replaces the Crypto Assets and Cyber Unit, brings together around 30 fraud specialists and attorneys from multiple SEC offices to strengthen enforcement against emerging technology fraud.
“Under Laura’s leadership, this new unit will complement the work of the Crypto Task Force led by Commissioner Hester Peirce. Importantly, the new unit will also allow the SEC to deploy enforcement resources judiciously,” said SEC Acting Chairman Mark T. Uyeda.
According to D’Allaird’s LinkedIn profile, the seasoned attorney is also counsel to SEC Commissioner Jaime Lizárraga.
The CETU aims not only to shield investors but also to boost capital formation and enhance market efficiency, paving the way for new innovations. Its mandate includes targeting and dismantling schemes that exploit emerging technologies to defraud investors and erode confidence.
Moreover, the CETU will leverage its extensive fintech and cybersecurity expertise to target misconduct in securities transactions. Its focus includes fraud using emerging technologies like artificial intelligence and machine learning, as well as deceptive practices perpetrated via social media, the dark web, or fraudulent websites.
It will also address hacking incidents aimed at accessing material nonpublic information, unauthorized takeovers of retail brokerage accounts, and fraudulent schemes involving blockchain technology and crypto assets.
Furthermore, the CETU will ensure that regulated entities comply with cybersecurity rules and will scrutinize any fraudulent disclosures by public issuers related to cybersecurity.
With the CETU in place, the SEC is taking a decisive step toward protecting investors in an era of rapid technological innovation. The unit’s broad mandate — from combating AI-driven fraud to enforcing cybersecurity standards — stresses the agency’s commitment to preemptively address risks in the digital marketplace.
As new technologies continue to reshape financial markets, CETU’s proactive measures may play a crucial role in maintaining market integrity and boosting investor confidence.
Read More
- CFTC Targets Crypto Fraud in First Major Case Under New Leadership
- France Investigates Binance for Money Laundering, Fraud Allegations
- Unmasking Crypto Scams: Tips to Protect Your Investments From Fraud
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
