More elderly consumers are being diagnosed with Alzheimer's and dementia — making them vulnerable to scammers. Financial institutions are seeking special certifications to better equip themselves to help.

The FBI, NSA and CISA highlighted the emerging dangers of AI-powered deepfakes in phishing campaigns and cataloged protections companies can deploy.

Fraudsters are leveraging advanced artificial intelligence to impersonate customers and deceive financial institutions, but the industry is fighting back with detection systems.

The three former Washington Federal Bank for Savings board members were accused of giving the OCC false information in an attempt to hide embezzlement. They could face up to five years in prison for attempting to deceive the OCC.

Incidents have increased by five times on a quarter-to-quarter basis, starting with the shift in deposit relationships after Silicon Valley Bank failed, CertifID said.

Lloyds Banking Group, Natwest Group, Bank of Scotland and others will use the artificial intelligence tool in preparation for new rules that will require them to compensate customers affected by "authorized push payment" scams.

This week in global news, Mizuho opens generative AI to staff, BBVA organizes to fight fraud and more.

Synthetic fraud — which combines real and false identifying information — has been a niche variety of identity theft for some time. But recent advancements in artificial intelligence and people's access to it might bring it into the mainstream in a big way.

One area of focus for the bank is using advanced artificial intelligence to detect business-email compromise. The payment messaging network Swift and online gambling host Caesars are also using AI to stop people from gaming their systems.