Three news to start your week: March 25
Vietnam's president resigns amid an intense anti-corruption campaign
(NPR)
According to the Communist Party's announcement, Vo Van Thuong, the president of Vietnam, resigned from office. He is the latest senior official to step down, probably because of his participation in a robust anti-corruption campaign.
The party declared that it had accepted his resignation and that "violations by Vo Van Thuong have left a bad mark on the Communist Party's reputation."
Thuong's resignation as the second president to step down in two years concerns political stability in a nation vital to the U.S.-China rivalry and the growing global manufacturing sector.
Following weeks of speculation that he would be removed from office, he resigned on the eve of the special session of the Vietnamese parliament devoted to "personnel matters."
SEC settles with two investment advisers over alleged 'AI washing'
(The Wall Street Journal)
The Securities and Exchange Commission penalized two investment advisers for making false claims about their use of artificial intelligence technology as part of their effort to crack down on "AI washing" by companies.
Delphia (USA) and Global Predictions settled with the SEC on Monday. They agreed to pay $400,000 in civil penalties without admitting or denying the SEC's accusations. Global Predictions agreed to pay $175,000, and Delphia agreed to pay a $225,000 civil penalty.
AI washing is when companies mislead the public about their artificial intelligence capabilities. It has become a popular phrase like "greenwashing," where businesses trick people into thinking their products are environmentally friendly.
In a speech in December, SEC Chair Gary Gensler cautioned companies about the dangers of AI washing. He also mentioned that securities laws forbid false claims and mandate that businesses provide "full, fair, and truthful" disclosures.
UK court convicts woman found with more than $4.3 billion in Bitcoin
(Bitcoin.com)
A British woman has been convicted of "engaging in a money laundering scheme" after it was revealed that she was in possession of bitcoins valued at over $4.3 billion. Jian Wen, a London resident, is reportedly an expert at transforming digital assets into tangible assets, such as jewelry and multimillion-dollar homes.
Wen, who had previously worked in a takeaway restaurant, allegedly posed as an employee of a jewelry company to avoid raising suspicions. Despite her efforts, Wen was unable to evade money laundering investigations when she attempted to purchase multiple luxurious homes in London. Similarly, her attempt to link her millions of dollars to Bitcoin mining proved unsuccessful.
Nevertheless, in 2019, the woman bought properties in Dubai and jewelry valued at tens of thousands of dollars in Switzerland. Wen is currently awaiting her sentencing.
