A new generative AI tool named GhostGPT is reportedly being utilized by cybercriminals to assist in the creation of malware and phishing scams. This uncensored chatbot has raised concerns regarding its accessibility for malicious activities. Reports indicate that the FBI and FINRA have issued warnings about the misuse of generative AI in financial fraud, highlighting its role in facilitating large-scale scams and enhancing the believability of fraudulent schemes. As AI-enabled fraud becomes increasingly sophisticated, financial institutions are urged to strengthen their defenses against evolving threats. Companies across various sectors, including financial services and healthcare, are leveraging AI and accelerated computing to enhance fraud detection and protect customers. Experts emphasize the necessity of secure content verification for businesses with a digital presence to combat these threats effectively.