Bloomberg Law
Aug. 21, 2023, 11:00 PM

Deepfakes Are Driving a Whole New Era of Financial Crime

Nabila Ahmed
Nabila Ahmed
Bloomberg News
Adam Haigh
Bloomberg Editorial
Ainsley Thomson
Ainsley Thomson
Bloomberg News
Ellie Harmsworth

Computer-generated children’s voices so realistic they fool their own parents. Masks created with photos from social media that can penetrate a system protected by face ID. They sound like the stuff of science fiction, but these techniques are already available to criminals preying on everyday consumers.

The proliferation of scam tech has alarmed regulators, police and people at the highest levels of the financial industry. Artificial intelligence in particular is being used to “turbocharge” fraud, US Federal Trade Commission Chair Lina Khan warned in June, calling for increased vigilance from law enforcement.

Even before AI broke loose and became ...

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