The Treasury Department has highlighted the increasing challenges financial institutions face due to AI-powered fraud, emphasizing the sophistication of attacks. In response, the Financial Committee and Bipartisan AI Working Group have acknowledged the ongoing use and potential of AI in enhancing cybersecurity and anti-fraud measures. Meanwhile, concerns over foreign adversaries exploiting AI advancements have prompted bipartisan efforts in Congress to bolster defenses against such threats. This situation coincides with a significant engagement from tech leaders with Congress, as over 100 technology chiefs and investors, including Alex Karp of Palantir and Roelof Botha of venture capital firms, press on the importance of maintaining a competitive edge in AI amidst rising tensions with China.