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NetBank - CommBank

The Commonwealth Bank has called police to investigate up to $1 billion in potentially fraudulent home loans - including documents created with artificial intelligence (AI) forgeries. This follows an announcement by two major companies this week that thousands of jobs will go as they fast-track the use of AI. Commonwealth Bank said in a statement: "Although the exposed loans may amount to about $1 billion, the bank is not out of pocket, as the mortgages are being paid down by the borrowers and a

Commonwealth Bank investigates $1 billion AI fraud crisis

Commonwealth Bank reports $1 billion mortgage fraud scheme