Bipartisan Bill Targets AI-Driven Finance Fraud by China, Russia

Lawmakers are seeking to protect US financial markets and data against artificial intelligence-fueled attacks by foreign actors like China and Russia, according to bipartisan legislation.

Reps. Zach Nunn (R-Iowa) and Jim Himes (D-Conn.) will unveil a measure, obtained exclusively by Bloomberg Government, that would require the federal government to create a strategy to prevent AI-generated scams and data theft that threaten economic and national security.

AI holds tremendous opportunity but “also a ton of risk that our adversaries—like the Chinese Communist Party, North Korea, Russia, and Iran—will use it to generate misinformation, commit fraud, and perpetrate crimes,” Nunn, who ...