This story is from October 1, 2026. For the latest, see today's news.
Rob Nichols, president and CEO of the American Bankers Association, appeared on CNBC's 'Squawk Box' to discuss the growing threat of AI-powered scams targeting bank customers. He described how fraudsters are increasingly using AI tools to craft more convincing attempts, voice scams, and other deceptive tactics aimed at bank account holders.
Nichols outlined measures the banking industry is taking to combat these threats, including customer education and technology investments to detect and prevent AI-enabled fraud. The discussion highlighted the dual nature of AI in finance, as both a tool scammers exploit and a resource banks are using to defend against such attacks.
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