Reported by Cheng Leng and Chan Ho-him UK engineering group Arup lost HK$200mn ($25mn) after fraudsters used a digitally cloned version of a senior manager to order financial transfers during a video conference, the Financial Times has learned. Hong Kong police previously revealed what is one of the world’s biggest known deepfake scams, but did not identify […]
Reported by Matt Egan, CNN Uncle Sam has quietly deployed a new secret weapon designed to catch bad guys trying to steal from taxpayers: artificial intelligence. Starting around late 2022, the Treasury Department began using enhanced fraud-detection methods powered by AI to spot fraud, CNN has learned. The strategy mirrors what is already being done […]
Reported by Sean Keach, Head of Technology and Science SINISTER crooks are peddling fake Super Bowl tickets online – and it could cost you hundreds of dollars. Tech-savvy cyber-criminals have even resorted to using AI to make more convincing fakes, security experts have warned. Some fans will be forking out thousands of dollars for legitimate tickets. […]
Reported by Rick Schindler YouTube has deleted a thousand videos circulating on its platform that purportedly showed Taylor Swift, Steve Harvey and Joe Rogan denouncing a Medicare scam, 404 Media reported today. The videos the celebrities appeared to be showing were not legitimate advertisements for Medicare plans that would help seniors meet their health care […]
Reported by The Commodity Futures Trading Commission’s Office of Customer Education and Outreach (OCEO) Scammers claim AI-created algorithms can generate huge returns—sometimes tens of thousands of percent—or yield 100 percent “win” rates. These dubious claims have been made about algorithms that automatically place trades, known as “bots,” and algorithms that provide buy and sell signals […]
Reported by Katherine Doherty and Edward Ludlow Nasdaq Inc. is throwing its weight behind technology that protects against financial crime as the demand to stop sophisticated, bad actors rises, according to Chief Executive Officer Adena Friedman. “We are investing in the technology in a very significant way,” Friedman said Wednesday at the Consumer Technology Associationconference in Las […]
Reported by Tim Wu When President Biden signed his sweeping executive order on artificial intelligence last week, he joked about the strange experience of watching a “deep fake” of himself, saying, “When the hell did I say that?” The anecdote was significant, for it linked the executive order to an actual A.I. harm that everyone […]
Reported by JOSH BOAK AND MATT O’BRIEN President Joe Biden on Monday signed an ambitious executive order on artificial intelligence that seeks to balance the needs of cutting-edge technology companies with national security and consumer rights, creating an early set of guardrails that could be fortified by legislation and global agreements. Before signing the order, Biden said AI […]
Reported by Carter Pape In recent years, regulators have warmed to the idea of banks using artificial intelligence to comply with anti-money-laundering laws and related regulations for countering the financing of terrorism and preventing other financial crimes. Increasingly, banks have also used this same transaction monitoring technology to protect themselves from fraud. Using AI to monitor transactions […]
Reported by Matt Binder Is OpenAI responsible for what its popular AIchatbot, ChatGPT, says? A new lawsuit against the company filed by a Georgia-based radio host argues that the company is. Armed America Radio host Mark Walters filed against OpenAI for defamation earlier this week, marking the first such case in AI, according to Bloomberg. So, what happened? According […]
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