FinCEN Alert on Fraud Schemes Involving Deepfake Media Targeting Financial Institutions
FinCEN (US Treasury Financial Crimes Enforcement Network) warns financial institutions about deepfakes, emphasizing the shift of compliance risks into operational threats affecting finances, operations, and reputation. Firms must adopt tools like metadata analysis and AI to detect fraud. Reframing compliance as operational risk management enhances resilience, aligning compliance with broader strategic and risk mitigation goals.