aceAI-driven financial fraud: key risks and legal protections for financial institutions
Abstract Artificial intelligence (AI) has become integral to financial institutions operations. Implementing AI allowed significant improvement in service quality and enabled innovative customer solutions. At the same time, with all the advantages and positive aspects of using AI, it also creates additional risks, depending on who and for what it is used. In the hands of fraudsters, AI becomes a tool with which financial institutions and their clients are causing significant damage, and not only financial. At th…
Fraudsters using AI to commit financial fraud cause significant damage to financial institutions and their clients.
Current UK and EU legal frameworks show inconsistencies and gaps in addressing AI-enabled fraud, requiring updated accountability and remedies.
Evidence
- Peer-reviewedJournal of Banking Regulation2026-01-20
How should this claim be treated?
Truvace Impact Record TRV-2026-0396, v1: “AI-driven financial fraud: key risks and legal protections for financial institutions.” Truvace, 2026-07-20. /record/TRV-2026-0396 (accessed at citation time). sha256 e563051cfaa40248…
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