OpenAI CEO Sam Altman says the world may be on the precipice of a “fraud crisis” because of how artificial intelligence could enable bad actors to impersonate other people.

OpenAI CEO Sam Altman warned the financial industry of a “significant impending fraud crisis” because of the ability of artificial intelligence tools to impersonate a person's voice to bypass security checks and move money.

OpenAI Chief Executive Sam Altman said he is concerned that financial firms aren’t adequately dealing with a rise in artificial intelligence-enabled scams against bank customers, highlighting a chief concern of lenders as the emerging technology grows more sophisticated.