Artificial Intelligence Makes Boosting ID Theft Protection Critical, House AI Task Force Chair Warns

AI's growing popularity with crooks makes boosting ID theft defenses more critical says House AI Task Force Chair Bill Foster Artificial intelligence is making improving identity theft protections imperative, House Financial Services Committee AI Task Force Chair Bill Foster warned Wednesday. The Congressman said AI has become an increasingly popular tool for crooks to swipe assets and sensitive financial information from consumers. AI is being used to help steal Social Security numbers, credit card numbers and other personal identity factors can be stolen and sold on the dark web, or used by criminals for quick and easy profit gain, Foster explained. Experts estimate nearly 15 million Americans were victims of ID theft last year costing them billions. At the same time crooks are profiting from AI, nation's financial regulators and law enforcement agencies are availing themselves of the technology to detect fraud and money laundering and to improve market surveillance, Foster said.