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.
A new @USTreasury report calls out cyber risks to the financial sector fueled by AI. Details via @MattBracken here: https://t.co/qWfzkD9tAR
It's time to better understand AI and take robust action to secure the U.S.’s leadership in the AI revolution. That's why @RepDerekKilmer, the @NewDemCoalition, and I sent a letter to @POTUS encouraging him to study and support our AI workforce. 🧵
The future of financial fraud detection evolves with AI. Explore how #AppliedAI transforms fraud prevention in our latest blog, from identifying forged documents to thwarting phishing attempts. Read more: https://t.co/UDYB1kCa1b
A.I. Leaders Press Advantage With Congress as China Tensions Rise https://t.co/kToSWkVfxU important event
A.I. Leaders Press Advantage With Congress as China Tensions Rise https://t.co/kToSWkVfxU “On May 1, more than 100 tech chiefs and investors, including Alex Karp, the head of the defense contractor Palantir, and Roelof Botha, the managing partner of the venture capital firm…
AI-powered fraud and cybercrime is on the rise… https://t.co/AEvQhVuesc
As our foreign adversaries capitalize on advancements in AI, Congress must protect American businesses, people, financial markets, and supply chains from foreign influence. That's why I'm leading a bipartisan effort to strengthen our defenses against adversarial uses of AI.
I'm pleased to see @USTreasury acknowledge the potential for financial institutions' adoption of AI technology to improve cybersecurity and anti-fraud functions. Our Bipartisan AI Working Group looks forward to continuing to evaluate current and potential future use cases. https://t.co/GempTr27QW
AI generated fraud coming to a business near you https://t.co/KqLgO9slwV
Financial institutions have already been using AI systems to support cybersecurity and anti-fraud operations for years. Republicans appreciate @USTreasury’s efforts and assessment of financial institutions use of AI, including these existing use cases.
Artificial intelligence is making it easier for fraudsters to carry out more sophisticated attacks on financial firms, the Treasury Department said https://t.co/diOkq7hMwd
AI-powered fraudsters are overwhelming bank defenses, Treasury report says https://t.co/8JViTvBheK
AI-powered fraud is overwhelming banks’ defenses: Treasury Department https://t.co/TRinjoGOSF
It's clear Beijing will use every tool at their disposal to gain a strategic advantage. That's why I'm working to protect Americans' privacy & bolster national security with my bill to prevent data brokers from selling sensitive info to our adversaries. https://t.co/NJB9Iy55cS
AI masters fraud detection with cutting-edge innovation that leverages AI and machine learning to safeguard businesses against financial threats. Read the latest AI in Finance Automation blog, The CFO's New Frontier: Mastering Fraud Prevention with AI. https://t.co/X9apUJNypD
“As the U.S. strives to maintain its technological leadership and address security challenges posed by potential adversaries, the coordination of AI initiatives will be crucial,” @KevDesouza and co-authors write. https://t.co/2q9GEzhm5z