Commonwealth bank just found $1 billion in home loans approved using AI generated fake documents.
AI can now produce a convincing payslip, passport and other documents in minutes. The attack surface is every mortgage market on earth. CBA only found this because two whistleblowers came forward. Their systems missed it entirely. So the question isn’t whether this is happening at other banks globally, rather if anyone’s even looking.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Commonwealth bank just found $1 billion in home loans approved using AI generated fake documents.
AI can now produce a convincing payslip, passport and other documents in minutes.
The attack surface is every mortgage market on earth.
CBA only found this because two whistleblowers came forward. Their systems missed it entirely.
So the question isn’t whether this is happening at other banks globally, rather if anyone’s even looking.