The Treasury Department has highlighted the increasing challenge of AI-powered fraud overwhelming banks' defenses, emphasizing the sophistication of attacks on financial firms by fraudsters. This comes as financial institutions have been leveraging AI for cybersecurity and anti-fraud operations for years, with cutting-edge innovation. The acknowledgment by @USTreasury of AI's potential to enhance these functions has been welcomed by various stakeholders, including Republicans and the Bipartisan AI Working Group. Concurrently, efforts are being made to protect against adversarial uses of AI, with initiatives to prevent data brokers from selling sensitive information to adversaries and bipartisan efforts to strengthen defenses. The situation underscores the importance of coordination in AI initiatives to maintain technological leadership and address security challenges.