US Treasury Secretary Janet Yellen has highlighted a growing concern regarding fraud in the banking system, stating that it is becoming a significant problem. Yellen emphasized the Treasury Department's commitment to addressing this issue, noting that they are now utilizing artificial intelligence to combat fraud. In 2024 alone, AI has reportedly assisted the Department of Treasury in recovering $1 billion related to check fraud. Additionally, recent discussions between Yellen and a Chinese banker have focused on financial monitoring and money laundering, indicating a broader international concern about financial integrity.