Sponsors (8)
Official title: To require a strategy to defend against the economic and national security risks posed by the use of artificial intelligence in the commission of financial crimes, including fraud and the dissemination of misinformation, and for other purposes.
Introduced March 14, 2025 by Zach Nunn · Last progress March 14, 2025
Requires interagency reports (initial in 180 days, then annual) and follow‑up legislative recommendations to defend U.S. financial markets and supply chains from AI‑enabled financial crime, with a classified annex option.
The bill strengthens federal coordination, guidance, and readiness to defend financial markets and businesses from AI-enabled fraud, at the expense of added taxpayer-funded administrative costs, potential privacy risks from increased information sharing, new compliance burdens for firms, and reduced public transparency.
Financial institutions, banks, and investors will get coordinated federal resource commitments and budget planning to defend U.S. financial markets from AI-enabled fraud within 180 days, improving readiness and incident response.
Small businesses and critical supply-chain actors will benefit from stronger public–private coordination that leverages private-sector capabilities to protect supply chains and people from AI-enabled attacks.
American businesses — especially small firms — will receive best-practice guidance and incident-response recommendations to mitigate AI-driven scams and social-engineering, helping reduce losses from fraud.
Taxpayers could face increased administrative costs as Treasury, DHS, and Commerce produce recurring classified and unclassified reports and budget items to implement the program.
Expanded government–private information sharing and guidance could increase surveillance and data-sharing, raising privacy and civil‑liberty risks for consumers and businesses.
Legislative proposals and recommended defenses may impose new compliance and implementation costs on businesses, disproportionately burdening small firms.
Based on analysis of 2 sections of legislative text.
Requires the Treasury, Homeland Security, and Commerce Secretaries — working with major financial and technology regulators — to deliver to Congress an initial report within 180 days and annual updates thereafter that describe interagency policies, public‑private partnerships, and itemized resources and budget estimates to defend U.S. financial markets, people, businesses, and global supply chains from AI‑enabled financial crime. Each report may include a classified annex and must be followed within 90 days by joint legislative recommendations and best‑practice guidance for risk mitigation and incident response. The reports must be produced in consultation with the Attorney General and the heads of the Federal Reserve, OCC, FDIC, NCUA, NIST, SEC, FCC, and FTC, and must enumerate specific AI risks (for example, deepfakes, voice cloning, synthetic identities, AI‑driven market manipulation, false flags, social engineering, cyber breaches, number spoofing, and digital fraud).