Last week, the Commonwealth Bank hit the headlines after the bank reportedly says around A$1 Billion in home loans were obtained fraudulently also including through some AI Generated documents. According to the Australian Financial Review, this fraud was discovered last year by the big bank.
There are growing concerns about verification systems and how the growing impact of how this affects mum’s and dads and small businesses.
Image: image: Shutterstock – Nils Versemann
Produced By: Thomas Koutis
Featured In Story: Professor Toby Walsh – Scientia Professor of Artificial Intelligence at the Department of Computer Science and Engineering at the University of New South Wales, and Luke Irwin – Director of AEGIS Cyber Security
First aired on The Wire, Wednesday 4 March 2026