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ACAMS Hollywood: Cybercriminals using bots, deepfakes & synthetic identities to defraud financial institutions | Thomson Reuters Regulatory Intelligence and Compliance Learning

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During a recent online ACAMS panel, experts discussed what anti-money laundering professionals need to do to protect their institutions and clients from cybercrime

Deepfake technology, a type of artificial intelligence that allows a user to create a very convincing replica of a person or image, has gained traction in the cybercriminal world. You may even have seen some of these more innocuous examples such as Queen Elizabeth dancing on a tabletop in an altered video or the Rev. Martin Luther King Jr. reanimated.

The bigger question being raised by these cybercrime tactics is how they will be used by criminal actors in the future. Fraudsters are attempting to leverage the technology to trick banks, scam innocent users, and simply wreak havoc in our already chaotic and confusing online world. We’ve seen one prominent example of a company CEO being scammed out of $243,000 by an AI voice technology trick. The commonality among these scams is that…

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