LexisNexis Risk Solutions’ Haywood Talcove: Addressing AI-Assisted Fraud Should Be a Priority for White House, Congress

Haywood Talcove, CEO of the government group at LexisNexis Risk Solutions, said fraud and scams using artificial intelligence are going undetected and that the Biden administration and Congress should prioritize actions to address the threat posed by AI-assisted fraud schemes, Fox News reported Tuesday.

“I suspect over the next 12 months, if the government doesn’t react to this quickly, we’re going to lose over $1 trillion to these criminal groups, some of which are located outside the country,” said Talcove, a three-time Wash100 awardee.

He discussed how criminals could use AI to steal insurance and unemployment benefits from citizens and secure defense contracts by creating bogus companies.

“The technology is already so good that if any of your information is out on the web or social media can be used to create a generative AI model and blow past most of the government’s antiquated authentication systems,” Talcove said.

“Perhaps this time, our leaders will listen before disaster strikes like it did after Hurricane Katrina and COVID,” he noted.

In an opinion piece published Monday on Fox News, Talcove called on government agencies to recognize the threat posed by AI tools to their organizations and entitlement programs and cited how multifactor authentication and behavioral biometrics could help agencies counter AI fraud.