AI may make fraudulent schemes easier and faster to execute  - CNBC

Elon Musk said, “While AI has tremendous potential to transform industries, we must not forget the impact it could have on society and must work to mitigate potential risks.” The risk is here now. The Social Security Administration Office of the Inspector General wrote in a July letter to the agency stating, “The OIG understands criminals will use AI to make fraudulent schemes easier and faster to execute, the deceptions more credible and realistic, and the fraud more profitable.” Mark Hinkle of the Social Security Administration said, “The agency has techniques to identify and react to suspicious bad actors, and we look forward to continuing to work with the OIG on the evolution of AI and courses of action regarding AI fraud.” Lori Konish reports on the risk AI will pose and how Social Security recipients can also help protect their personal financial information and monthly Social Security benefits. Read Ms. Konish’s article here…

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