AI 'is changing the game' in fraud threats and prevention, SSA OIG official says

SSA OIG strategic director Chad Bungard said AI helps fraudsters steal government funds more effectively and urged agencies to use AI for countermeasures. Deloitte estimates generative AI could enable about $40 billion in fraud by 2027.

• Deloitte estimates AI fraud losses at $40 billion by 2027
• Fraudsters use chatbots to impersonate direct deposit recipients
• SSA and OIG created an AI fraud subcommittee with quarterly meetings
• Agency not yet ready for agentic AI in fraud prevention