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Altman warned the Fed about a banking transfer security crisis

OpenAI head Sam Altman spoke with a serious warning about an approaching crisis in financial transaction security. At a meeting at the US Federal Reserve System, he stated that most existing authentication methods are no longer capable of withstanding modern technologies.

Banks that still accept voice confirmations for transferring large amounts of money are of particular concern. “This is madness,” Altman emphasized. Explaining how easily modern technologies can imitate human voice. Creating realistic fakes to bypass protection systems.

The problem is much broader than voice authentication. Technologies have learned to create convincing video fakes that are practically impossible to distinguish from real recordings. According to Altman, the financial industry continues to live with perceptions of the past, not realizing the scale of already existing threats.

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