fraud

The United States is preparing to significantly tighten penalties for fraud involving artificial intelligence. Two lawmakers – Democrat Ted Lieu and Republican Neal Dunn – have introduced a bill aiming to outlaw the misuse of AI for impersonating federal officials.

Deepfakes as a Growing Threat
The bill, titled AI Fraud Deterrence Act, comes in response to a sharp rise in incidents where AI-generated videos or audio impersonated government figures – such as White House Chief of Staff Susie Wiles or Senator Marco Rubio. These deepfakes were used to manipulate the public or even target state institutions.
The law reflects the current reality in which AI becomes a powerful tool not only for innovation but also for fraudsters. The FBI previously warned that generative AI simplifies and speeds up the creation of fraudulent content because “it eliminates human errors that would previously serve as warning signs.”

Double the Penalties for AI-Driven Fraud
The proposed legislation would double the maximum fine for fraud committed using AI from $1 million to $2 million. Additionally, these offenses would fall under mail and wire fraud categories, allowing for stricter punishment – including up to 20 years in prison.
Crimes involving impersonation of federal officials through AI would become a distinct offense. Lawmakers agree that the current legal framework is falling behind the pace of technological advancement.
“AI is evolving faster than our laws,” Dunn stated. “We must modernize the legal framework to protect the public from abuse of this technology.”
Lieu added that most Americans don’t want a “complete Wild West” and are calling for reasonable safeguards.

AI Can No Longer Be Spotted Easily
A few years ago, fake content was easy to detect – for example, due to unnatural hands or distorted faces. That’s no longer the case. Maura Grossman, professor of computer science at the University of Waterloo, warns that modern AI enables fraud “at a scale, speed, and quality never seen before.”
“Tips like ‘look for extra hands’ no longer work,” confirms Hany Farid, a digital security expert. According to him, we’ve entered a new era where traditional detection methods fail.

The Way Forward: AI Content Labeling
The bill also recommends the mandatory labeling of AI-generated content – for example, using warning tags or satire labels. Labeled content could be exempt from penalties in some cases, such as for parody or satire.

Lawmakers want to stay ahead of technological development before it's too late. Whether it's protecting the public, the media, or institutions themselves, it's clear the era of unregulated AI is coming to an end.

#USPolitics , #AI , #fraud , #CyberSecurity , #Regulation

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

“They called it speculative risk. Now they call it fraud. When the Serious Fraud Office targets a crypto project, the game shifts from a technical discussion to a criminal investigation. The age of light-touch regulation is over.”

🩸 Today’s Mood:
Surgical attention—the state is finally using its sharpest tools.
Today’s $BTC Highlights & Trend Impact:
Price: $82,113.00 | Change % (24H): -10.81% | Volume (24H): $95.3B | Market Cap: $1.63T — The long arm of the law now reaches for digital assets.
🎭 News (or should I say… whispers from the pit?)
The U.K. has decided to treat crypto like organized crime. The Serious Fraud Office (SFO)—a unit typically reserved for high-level financial corruption—has launched its first major investigation into a crypto collapse: the $28 million Basis Markets project. Two arrests have been made on suspicion of fraud and money laundering.

The significance is the institutional upgrade of the attack. Governments are shifting from securities regulators (like the SEC) to criminal investigators (like the SFO). The SFO's director stated they are determined to pursue those who "attempt to defraud investors using cryptocurrency." This signals that the legal defense of "it's not a security" is irrelevant when the state decides to pursue criminal fraud charges. The failure of one small project becomes the legal template for investigating countless others. The era of playing fast and loose with token sales is officially over.
“And here’s the punchline — no one ever sees it coming… until it’s too late.”

The state is adapting, replacing uncertainty with certainty, and regulation with prison time. Watch what they investigate, for that defines the next bear market.

“So tell me, reader… what’s your move now?”

#ChaosSignals #fraud #StrategyBTCPurchase #SEC #US-EUTradeAgreement

“Crypto’s not about money… it’s about sending a message.”
— 😈
💬 DISCLAIMER
“This post is for informational and educational purposes only.
Not financial advice — just whispers from the chaos, interpreted by a madman with a mirror.”
— 💚🃏

#DeFi security startup Quantstamp has recently released a report highlighting alarming security incidents in the growing world of decentralized finance (DeFi). Malicious actors are employing sophisticated methods to threaten and exploit DeFi protocols.
Nearly $39 Million Lost
Quantstamp revealed that malicious actors managed to drain approximately $38.9 million from DeFi through various attacks. These incidents involved the use of smart contracts, key compromises, and fraud.

Radiant Capital: The First Target
The first significant target was the Radiant Capital protocol, which facilitates cross-chain lending. Attackers caused a loss of 1,900 #ETH (approximately $4.5 million) by exploiting a time window and a known rounding issue in the Compound/Aave code. This incident raised concerns about the security of DeFi platforms and their users.

Gamma Protocol: Another Victim
A devastating attack followed on the Gamma Protocol, a liquidity control protocol, which suffered a loss of approximately $6.18 million. Exploiting vulnerabilities in the price movement threshold configuration allowed attackers to manipulate prices and generate a large number of LP tokens.

Wise Lending and Socket Protocol
Wise Lending, another prominent player, fell victim to a flash loan attack, resulting in a loss of at least $460,000. The Socket Protocol, an interoperability protocol, was also targeted, with attackers exploiting vulnerabilities in a new module to steal approximately $3.3 million from users.

Goledo Finance: A Loss of 7.9 Million CFX
Goledo Finance, a lending protocol within the Conflux ecosystem, was also subjected to an attack, resulting in a loss of 7.9 million CFX (approximately $1.7 million). This incident underscores the serious threat that malicious actors pose to DeFi platforms.

Persistent Threat to DeFi
In conclusion, this series of attacks, including recurring flash loan attacks, underscores the persistent threat that DeFi platforms must contend with. Thorough security measures need to be implemented, and vulnerabilities monitored to minimize losses and safeguard users in this dynamic ecosystem.
$ETH
#crypto #fraud

 
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“