Generative AI fraud is an umbrella term used to refer to any type of fraud carried out using fake (i.e., generated) content created by neural networks.
Bad actors can use generative AI to create fake selfies, videos, and audio recordings of people who don’t exist, which are then used to bypass verification systems and open fraudulent accounts. Deepfakes, which are fake images, videos, or audio of real people, are a form of generative AI fraud.
Fraudsters can also use large language models (LLMs) to generate fake text, which can be leveraged in spam and other forms of phishing en masse.