FinCEN Alert FIN-2024-Alert004 — GenAI Deepfake Media for Financial Fraud
United States · FinCEN Alert FIN-2024-Alert004 (Nov. 13, 2024)
FinCEN issued an alert telling banks and other financial institutions how to spot — and report — fraud schemes that use generative-AI deepfakes to defeat identity verification. Suspicious activity reports must use the SAR keyword 'FIN-2024-DEEPFAKEFRAUD' so FinCEN can track the trend in synthetic identity and account-takeover fraud.
Technical detail
FinCEN Alert FIN-2024-Alert004 (Nov. 13, 2024) issued under the Bank Secrecy Act describes typologies — deepfake images and videos used to defeat CIP/KYC, deepfake audio for elder fraud and business email compromise — and lists red flags. Filers must use SAR keyword 'FIN-2024-DEEPFAKEFRAUD' and reference the alert.
Who is protected: Banking customers, fintech customers, financial system integrity
Who must comply: Banks, MSBs, broker-dealers, and other BSA-covered financial institutions
Key facts
| Jurisdiction | United States |
|---|---|
| Level | Federal |
| Status | In effect |
| Protection strength | Moderate protection |
| Effective date | 2024-11-13 |
| Enacted | 2024-11-13 |
| Citation | FinCEN Alert FIN-2024-Alert004 (Nov. 13, 2024) |
| Enforced by | FinCEN; federal banking regulators |
| Private right of action | No — agency enforcement only |
| Penalties | BSA civil and criminal penalties for AML/SAR failures |
| Topics | consumer protection · deepfakes · consumer data privacy |
| Last verified | 2026-06-17 |
| Official source | FinCEN Alert on Fraud Schemes Involving Deepfake Media Targeting Financial Institutions ↗ |
More AI rules in United States
- FTC Act Section 5 (unfair/deceptive AI) · In effect
- TAKE IT DOWN Act · In effect
- FCRA (AI in credit & background checks) · In effect
- ECOA / Regulation B (AI credit discrimination) · In effect
- Title VII / ADA (AI hiring) · In effect
- COPPA + 2025 Rule (childrens data) · In effect
Related consumer protection rules elsewhere
- CCPA/CPRA + ADMT Regulations · In effect
- AB 2013 (Training Data Transparency) · In effect
- SB 942 (AI Transparency Act) · Enacted (not yet in effect)
- SB 53 (Frontier AI Safety) · In effect
- Colorado AI Act (repealed) · Repealed / replaced
- SB 26-189 (Colorado ADMT Law) · Enacted (not yet in effect)
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