SEC scheme uses AI for digital enforcement planThe Securities and Exchange Commission (SEC) has developed an e-enforcement project that uses artificial intelligence (AI) technology in verifying and investigating crimes and wrongdoing in the capital market. Anek Yooyuen, the SEC's assistant secretary-general of enforcement, said the e-enforcement project consists of three parts: AI enforcement, corporate surveillance, and an e-link. AI enforcement detects unusual actions, such as odd stock price movements or anomalous trading behaviour, helping the regulator catch suspicious movements the moment they occur, he said. Although the SEC has employed AI enforcement in the real market, it is in the second and third developmental phases, said Mr Anek. By 2023, the project aims to use AI and data analytics to predict misconduct and fraud in financial statement audits.
