Posted on 07/28/2025 5:49:30 AM PDT by Openurmind
OpenAI CEO Sam Altman is warning of an "impending fraud crisis" in which practically anybody will be able to imitate not only the voice but even the likeness of others, using the type of AI that his company is helping pioneer.
During a chat with Federal Reserve vice chair Michelle Bowman in Washington, DC, Altman argued that the banking industry must modernize to avoid having its customers fall victim to widespread fraud.
"I am very nervous about this," he told Bowman. "A thing that terrifies me is apparently there are still some financial institutions that will accept a voice print as authentication for you to move a lot of money or do something else. You say a challenge phrase and they just do it."
"AI has fully defeated most of the ways that people authenticate currently, other than passwords," he went on. "Right now, it’s a voice call; soon it’s going be a video or FaceTime that’s indistinguishable from reality."
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I’ll believe it when AI can make my ex-wife into Cheryl Tiegs.
Frank Sinatra doing Led Zeppelin would be awesome!
Wouldn’t it be great if society went back to face-to-face business deals where actually knowing someone as a trustworthy person mattered? You could make a deal with a handshake because faceless, soulless corporations were replaced by small local institutions that cared about both employees and customers?
But then profits would suffer and we couldn’t accumulate as much precious “stuff”.
Staybm away from questionable websites to reduce your exposure.
Solution: Blockchain verification of identity?
We heard it from Bill Gates: Our cattle tattoos are coming right up!
Yes. Get ready for your bank accounts and broker accounts emptied out. But AI can never change my flat tire on road trip.
“Stay away from questionable websites to reduce your exposure.”
Yes, all it will take is one current picture...
Reduce, but not eliminate. This speaks to the ability to go to a legit website and impersonate another by voiceprint (for example).
It would mean that biometric authentication would be a thing of the past, and that you would need 2-factor auth everywhere, at a minimum.
The internet is going to be full of even more garbage than usual
“But then profits would suffer and we couldn’t accumulate as much precious “stuff”.”
You sound like me about the senseless impractical materialism. And lifestyle, got to have more to go blow at the Indian Casinos.
Skepticism in all things.
Trust but verify, as it was advised.
Looking forward to the next Beatles album, Marlon Brando movie and Tolstoy book.
I would think it should be possible for recording devices such as cameras and phones to encode digital signatures, with said signature tracked to the buyer’s device. With subsequent copies, another would be added by the device, much like a blockchain.
It’s got its limits, but it would help.
OpenAI gives me FTX 2.0 vibes, just sayin.
Easthinki g that fami,it’s should get together some keywords to ask whenever someone in the family needs help or advice or whatever- or phrases, or nonsense answers to questions like “OK, if you are my son, who is your favorite rock star” answer “my pet camel is” just something to help identify - if imposter doesn’t know the answer, hang up.
Do you think the authenticator app is better than 2 factor? I am being told so.
“Vibe Coders” will be the death of us.
Chase Bank asked me last week if I wanted to use voice identification. I said no thanks
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