The Financial Crimes Enforcement Network issued an alert to help financial institutions identify fraud schemes associated with the use of deepfake media created with generative artificial intelligence tools.
Details: The alert:
Provides red flag indicators to assist with identifying and reporting related suspicious activity.
Details an increase in suspicious activity reporting by financial institutions describing the suspected use of deepfake media, particularly the use of fraudulent identity documents to circumvent identity verification and authentication methods.
Reminds financial institutions of their reporting requirements under the Bank Secrecy Act.