By Adrianne Appel2024-11-14T20:36:00
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an alert Wednesday to financial institutions about their obligations to report deepfakes, warning artificial intelligence has given bad actors additional tools in their arsenal.
Deepfakes are highly sophisticated fraud schemes that are crafted, often with AI, to trick intended targets into believing a phone call, email, or video is legitimate. Most often, the aim of the caller, who poses as a known bank employee or executive, is to convince the bank employee, manager–or fellow executive–that their request to transfer funds is legitimate.
The use of AI has allowed criminals to expertly re-create a real person’s voice or 3D likeness, and it is often very difficult to discern whether a communication is real or a deepfake.
2024-10-29T19:47:00Z By Adrianne Appel
Artificial intelligence is an exciting, new technology and it is well-regulated by old laws and rules already on the books, financial regulators said at Compliance Week’s AI & Compliance Summit at Boston University.
2024-10-17T17:42:00Z By Adrianne Appel
New York financial institutions are expected to address cybersecurity risks posed by artificial intelligence, and new guidance from the New York Department of Financial Services is aimed at helping firms do just that.
2023-11-03T16:00:00Z By Martina Dove, for International Compliance Association
We are not the only ones benefiting from the convenience of new technologies like generative artificial intelligence. Scammers are, too.
2025-09-25T20:36:00Z By Jaclyn Jaeger
New regulations, changing consumer demands, and global supply chain disruptions – from cost-of-goods inflation to tariffs to raw material shortages, and more – are just a few top challenges reshaping the operations of food and beverage industry today. “These challenges are no longer just logistical—they implicate sourcing risk, contract performance, ...
2025-09-17T19:03:00Z By Ruth Prickett
More than half of all compliance teams are “actively using” or “piloting” AI applications, according to a Moody’s report. While most are focusing on streamlining routine tasks, some are developing AI agents and asking vital questions about AI decision-making.
2025-08-06T14:00:00Z By Aaron Nicodemus
The Trump administration’s designation of Mexican cartels as terrorist organizations in February has made doing business in Mexico riskier than ever before for corporations.
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