Haywood Talcove, CEO of LexisNexis Risk Solutions’ government business, warned that financial cybercrimes exploiting artificial intelligence are not imminent but already taking place, CNBC News reported Wednesday.
He noted that a new task force created by the Social Security Administration’s Office of the Inspector General to study AI is lagging behind criminal acts targeting government payments, particularly among older beneficiaries.
“You don’t have years, months or weeks to study this, because it is here right now,” said Talcove, a three-time recipient of the Wash100 award. He added that threat actors prey on federal agencies as much as beneficiaries because the government does not run out of money, and the probability of being caught is “virtually zero.”
To protect monthly Social Security income and other personal financial data, Talcove advised the public to lock their credit to make it inaccessible and to trace it at all three credit bureaus.
SSA and OIG are working together to combat AI-related fraudulent acts, according to an agency spokesman.