WASHINGTON (AP) — OpenAI CEO Sam Altman warned the financial industry of a “significant impending fraud crisis” because of the ability of artificial intelligence tools to impersonate a person’s voice to bypass security checks and move money. Altman spoke at a Federal Reserve conference Tuesday in Washington.

OpenAI Chief Sam Altman has raised concerns about an impending global fraud crisis driven by artificial intelligence. During a speech at a Federal Reserve event

Some banks in India are using voice printing for authentication to transfer funds. However, scammers can utilise AI to bypass the system and commit fraud.