AI Fraud Deterrence Act
Summary
The AI Fraud Deterrence Act aims to increase penalties for financial crimes committed using artificial intelligence. It addresses concerns about scammers using AI to impersonate officials and obtain sensitive information. The bill amends sections of Title 18 of the United States Code related to mail fraud, wire fraud, bank fraud, money laundering, and impersonation of federal officials.
Expected Effects
The Act will increase the potential fines and prison sentences for individuals who use AI to commit financial crimes. It also clarifies the definition of artificial intelligence by referencing the National Artificial Intelligence Initiative Act of 2020. This may deter criminals from using AI in fraudulent schemes.
Potential Benefits
- Deters financial crimes committed using AI.
- Protects individuals and institutions from AI-enabled fraud.
- Enhances the integrity of communications and transactions.
- Provides law enforcement with stronger tools to combat AI-related crime.
- Increases public awareness of the risks associated with AI-enabled fraud.
Potential Disadvantages
- Potential for increased costs associated with investigating and prosecuting AI-related crimes.
- Risk of over-criminalization or disproportionate penalties.
- Possible chilling effect on legitimate uses of AI technology.
- Difficulty in proving the use of AI in committing a crime.
- May require significant resources for training law enforcement and judicial personnel.
Constitutional Alignment
The AI Fraud Deterrence Act aligns with the Constitution's broad goals of establishing justice and ensuring domestic tranquility. Congress has the power to enact laws necessary and proper for carrying into execution its enumerated powers, including regulating commerce and punishing crimes. The First Amendment is addressed in Section 4(b), ensuring the act does not limit legitimate uses of AI in satire, parody, or expressive conduct.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).