OpenAI's Sam Altman warns of AI voice fraud crisis in banking

Associated Press Finance

Updated Tue, Jul 22, 2025, 11:59 PM 1 min read

WASHINGTON (AP) — OpenAI (OPAI.PVT) CEO Sam Altman warned the fiscal manufacture of a “significant impending fraud crisis” due to the fact that of the quality of artificial quality tools to impersonate a person's dependable to bypass information checks and determination money.

Altman spoke astatine a Federal Reserve league Tuesday successful Washington.

“A happening that terrifies maine is seemingly determination are inactive immoderate fiscal institutions that volition judge the voiceprint arsenic authentication,” Altman said. “That is simply a brainsick happening to inactive beryllium doing. AI has afloat defeated that.”

Voiceprinting arsenic an identification for affluent slope clients grew fashionable more than a decade ago, with customers typically asked to utter a situation operation into the telephone to entree their accounts.

But present AI dependable clones, and yet video clones, tin impersonate radical successful a mode that Altman said is progressively “indistinguishable from reality” and volition necessitate caller methods for verification.

“That mightiness beryllium thing we tin deliberation astir partnering on,” said Fed Vice Chair for Supervision Michelle Bowman, the cardinal bank’s apical fiscal regulator, who was hosting the treatment with Altman.