Recommendation
Financial regulatory agencies should address threats from AI voice clones by updating security guidelines to ban financial institutions from relying solely on voice authentication to protect customers’ accounts.
Details
Some banks use voice recognition for customer authentication when accessing accounts or conducting transactions over the phone. Given the novel threat vectors of AI voice-cloning, regulators should update these guidelines to incorporate robust multi-factor authentication protocols that do not use only voice recognition to authenticate consumers.
Keep reading:
▪ Hodan Omaar and Daniel Castro, “Picking the Right Policy Solutions for AI Concerns,” (ITIF Center for Data Innovation, May 2024), https://itif.org/publications/2024/05/20/picking-the-right-policy-solutions-for-ai-concerns/.