AI-assisted fraud schemes could cost taxpayers $1 trillion in just 1 year, expert says

Haywood Talcove, CEO of LexisNexis Risk Solutions' government division, told Fox News Digital that he believes there will be more than $1 trillion in artificial intelligence-assisted fraud if U.S. doesn't act quickly. Artificial intelligence smashed the floodgates to unprecedented fraud that could cost taxpayers hundreds of billions, if not $1 trillion, over the next 12 months, an expert told Fox News Digital. Haywood Talcove, CEO of LexisNexis Risk Solutions' government division, which evaluates and predicts risk, said he's already seeing criminals on the dark web using people's faces to steal from government and state agencies. Benefits to America's most vulnerable communities, such as Social Security, Medicare and Medicaid, and unemployment, are ending up in the pockets of criminals and criminal enterprises that are operating all over the world. "Being one of the wealthiest countries in the world makes us a huge target," Talcove said.