U.S. officials say AI could facilitate hacking, scamming and money laundering

The NFT Unicorn d24ea8a0-99f9-4430-84d0-ce7ceb6aaca4 U.S. officials say AI could facilitate hacking, scamming and money laundering Crypto News

Law enforcement and intelligence officials in the United States warned about artificial intelligence (AI) advancements leading to the facilitation of cyber crimes such as hacking, scamming and money laundering, according to a report from Reuters. 

At the International Conference on Cyber Security at Fordham University in Manhattan on Jan. 9, Rob Joyce, the director of cybersecurity at the National Security Agency, said that AI helps reduce the tech-savviness needed to pull off such crimes.

“It’s going to make those that use AI more effective and more dangerous.”

However, Joyce also pointed out that AI can be a great tool to help U.S. authorities more efficiently hunt down such illegal activity.

Also speaking at the conference was James Smith, the assistant director of the Federal Bureau of Investigations’ New York field office, who said that the FBI has already witnessed an uptick in cyber breaches due to AI lowering the technicality threshold.

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The U.S. Attorney in Brooklyn, Breon Peace, was another speaker who highlighted the rapid emergence of AI-generated “deep fakes” that could trick systems that typically prevent cyber crimes.

“That, in turn, could allow criminals and terrorists to open accounts at scale, undermining the system of controls that we have developed for decades.”

Jimmy Su, Binance’s chief security officer, spoke to Cointelegraph in an interview last year expressing this exact sentiment, that AI deep fakes are getting better at spoofing KYC controls. He said, “AI will overcome [them] over time. So it’s not something that we can always rely on.”

Data from SumSub revealed that there has been a 10x increase in deep fakes across all industries globally from 2022 to 2023.

Last year, many major public figures, including actor Tom Hanks and the popular YouTuber MrBeast, had to denounce unauthorized deep fakes of themselves made to sell a product.

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