The AI Fraud Deterrence Act increases criminal penalties for financial crimes committed with artificial intelligence assistance. The bill responds to recent high-profile incidents where AI was used to impersonate government officials, including fake voice calls impersonating the White House Chief of Staff and Secretary of State. It doubles maximum fines for mail fraud and wire fraud to $2 million, creates specific penalties of up to $2-$30 million and 20-30 years imprisonment for AI-assisted bank fraud and money laundering, and establishes a separate crime for using AI to impersonate federal officials with penalties up to $1 million and 3 years in prison. The legislation includes a carve-out protecting legitimate uses of AI in satire, parody, and free speech, and it references the existing definition of artificial intelligence from the National Artificial Intelligence Initiative Act of 2020. The bill contains no specified funding amounts or implementation timelines.
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