So deepfakes and “AI was also used to generate synthetic identities that bypassed KYC checks, craft hyper-personalized phishing lures tailored to individual victims, and produce AI-driven malware capable of evading signature-based detection.”

Our most vulnerable must be getting absolutely hammered by scams. Is anyone working on protecting e.g. elderly people from social engineering? I feel like banks should be proactively suggesting people have a second family member or fiduciary sign off on risky transactions like wiring money to new accounts or pulling out a ton of cash.

I was recently on the phone with a very articulate member of my banks fraud department, or at least I believed they were up until they asked for my two factor code to reset my account. They had visibility into some past legitimate wire transfers which they asked me about along with a fictitious fraudulent one that they “blocked“, and when I pushed back against giving them my two factor code, they had a whole script prepared about needing to freeze my account until I went to a branch with four forms of identification (or just give us the two factor code and avoid the hassle). An acquaintance wired their down payment to a scammer after the real estate firms email system was compromised and scammer inserted their own wire instructions.

Not to mention reports of mythos directly hacking into banking systems. Scary times.