House lawmakers advanced a handful of bipartisan measures that aim to crack down on financial fraud largely driven by emerging technologies like artificial intelligence and blockchain.
The House Financial Services Committee approved the bills in a markup Wednesday, sending them to the floor for consideration. The effort comes as financial institutions face heightened risks of AI-powered scams and vulnerable populations, such as seniors, are increasingly targeted for fraud.
The proposals would direct federal agencies to craft a strategy that addresses the economic and national security risks posed by AI-powered fraud in financial institutions (H.R. 2152), allow local and ...