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The U.S. Treasury Department warns that AI-powered fraud is overwhelming banks' defenses, making it easier for fraudsters to carry out sophisticated attacks on financial firms. Financial institutions have been using AI for cybersecurity and anti-fraud operations, with GenAI technology both enabling fraudsters and empowering organizations in combating threats. Congress is urged to protect American businesses from foreign influence by strengthening defenses against adversarial uses of AI. The Treasury report highlights significant gaps in AI fraud prevention, indicating larger financial institutions have an advantage over smaller ones in AI-related fraud prevention.
By leveraging advanced machine learning algorithms, AI systems have the ability to analyze email headers, sender information, and content patterns to identify signs of phishing. Read the latest AI in Finance Automation blog: https://t.co/zlIpiyvRS9 https://t.co/RhzXNpMk4o
As AI continues to conquer the private sector, the U.S. Commerce and Treasury Departments release new regulation recommendations, amid concerns of sophisticated phishing or human voice imitation. @mmcassella has the latest. https://t.co/2VqaLnq4Eq
🤖🇺🇸 U.S Treasury Report uncovers 'significant' gaps in AI Fraud Prevention. The report findings suggest larger FIs have an edge over smaller ones in AI-related fraud prevention. https://t.co/37MuZiNIzp