AI Fraud Deterrence Act
The AI Fraud Deterrence Act increases penalties for financial fraud committed using artificial intelligence. It amends key laws (mail fraud, wire fraud, bank fraud, and money laundering) to add specific fines of up to $1 million or 20-30 years in prison when AI assists in these crimes. The bill defines "artificial intelligence" using the existing 2020 National AI Initiative Act definition. This directly affects individuals or entities committing financial fraud with AI tools, raising legal consequences for such actions.
Bill status
in committee
1 of 4 stages cleared
Introduction
Nov 2024
Committee Review
Floor Vote
President
Introduced Nov 14, 2024
Last action Nov 14, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Nov 14, 2024
Committee
Referred to the House Committee on the Judiciary.
lower
Nov 14, 2024
Introduced
Introduced in House
lower
1 primary · 1 co-sponsor
Sponsors
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