Why Commonwealth Bank’s $1 billion suspected loan fraud should change how we bank and do business
- Written by Toby Walsh, Professor of AI, Research Group Leader, UNSW Sydney
The Commonwealth Bank reportedly suspects around A$1 billion in home loans were obtained fraudulently, including through AI-generated documents. The Australian Financial Review says the bank has reported itself to police and the corporate watchdog to investigate.
According to sources quoted in the newspaper, Australia’s largest bank...
