The Commonwealth Bank has referred to as police to investigate up to $1 billion in doubtlessly fraudulent home loans – together with paperwork created with synthetic intelligence (AI) forgeries. This follows an announcement by two main corporations this week that hundreds of jobs will go as they fast-track using AI.
Commonwealth Bank mentioned in an announcement: “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 #financial institution #investigation #AI
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