Can you spot a financial fake? How AI is raising our risks of billing fraud

By Matthew Grosse, Director of the Master of Business Analytics, Senior Lecturer, Accounting, University of Technology Sydney

Along with the many benefits of artificial intelligence – from providing real time navigation to early disease detection – the explosion in its use has increased opportunities for fraud and deception.

Large and small businesses and even the Australian Taxation Office (ATO) may be hit with fraudulent reimbursement claims, which are almost impossible to distinguish from legitimate receipts and invoices.

Individuals also need to be wary.

Look at the photos of the receipts shown below. One documents a genuine transaction. The other was created using ChatGPT. Can…

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