The Commonwealth Bank has called police to investigate up to $1 billion in potentially fraudulent home loans – including documents created with artificial intelligence (AI) forgeries. This follows an announcement by two major companies this week that thousands of jobs will go as they fast-track the use of AI.
Commonwealth Bank said in a statement: “Although the exposed loans may amount to about $1 billion, the bank is not out of pocket, as the mortgages are being paid down by the borrowers and are secured against properties that could be sold if required.” #CommonwealthBank #CommBank #bank #investigation #AI
