OpenAI CEO Sam Altman warns of an 'impending, significant fraud crisis' as AI can now impersonate voices and videos, defeating voice authentication used by financial institutions, raising alarm about malicious AI development outpacing defenses.
Fintech founder Albert Saniger faces fraud charges for deceiving investors by falsely claiming his shopping app Nate used AI automation, when it relied on human labor, leading to over $50 million in losses for backers like Coatue and Forerunner Ventures.
The FTC sued Click Profit, an Amazon automation company, for defrauding customers of millions through a 'passive income' scam involving exaggerated earnings claims and misrepresenting its use of AI to manage online storefronts, despite customers failing to recoup investments.