🔍AI fraud is becoming a major headache for financial institutions, with the rapid advancement of technology making it difficult to detect and prevent. Ari Jacoby, CEO of Deduce, warns that AI fraud is the fastest-growing aspect of identity fraud, expected to surpass $100B this year. 😱 The rise of AI has also increased the prevalence of synthetic identities, posing a serious threat to crypto exchange KYC measures and cybersecurity. The US CFTC is already looking into regulations to curb AI fraud. So, folks, it's time to buckle up and brace for the AI fraud storm! 🌩️