This bill increases criminal penalties for financial fraud committed with the help of artificial intelligence. The legislation amends federal laws covering mail fraud, wire fraud, bank fraud, and money laundering to impose stricter sentences and fines when AI is used to commit these crimes. For example, bank fraud committed with AI assistance could result in fines up to $2 million and prison sentences up to 30 years, compared to current penalties. The bill defines artificial intelligence by referencing the National Artificial Intelligence Initiative Act of 2020, ensuring consistent language across federal statutes. The legislation has no specified implementation timeline or dedicated funding, as it operates through the existing federal criminal justice system.
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