Software provider AppZen said fake AI receipts accounted for about 14 per cent of fraudulent documents submitted in September, compared with none last year. Fintech group Ramp said its new software flagged more than $1mn in fraudulent invoices within 90 days.
About 30 per cent of US and UK financial professionals surveyed by expense management platform Medius reported they had seen a rise in falsified receipts following the launch of OpenAI’s GPT-4o last year.
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Creating fraudulent documents previously required skills in photo editing or paying for such services through online vendors. The advent of free and accessible image generation software has made it easy for employees to quickly falsify receipts in seconds by writing simple text instructions to chatbots.
Several receipts shown to the FT by expense management platforms demonstrated the realistic nature of the images, which included wrinkles in paper, detailed itemisation that matched real-life menus, and signatures.
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The rise in these more realistic copies has led companies to turn to AI to help detect fake receipts, as most are too convincing to be found by human reviewers.
The software works by scanning receipts to check the metadata of the image to discover whether an AI platform created it. However, this can be easily removed by users taking a photo or a screenshot of the picture.
To combat this, it also considers other contextual information by examining details such as repetition in server names and times and broader information about the employee’s trip.
Trip expenses and medical receipts are probably pretty easy to falsify. It could even be as easy as asking the next table for their receipt. But is it worth losing a job over?
Trip expenses and medical receipts are probably pretty easy to falsify. It could even be as easy as asking the next table for their receipt. But is it worth losing a job over?
Amusingly, there are some specific reporting requirements in the financial sector because apparently on a few occasions employees realised that there was an overlap in that industry between “life...
Amusingly, there are some specific reporting requirements in the financial sector because apparently on a few occasions employees realised that there was an overlap in that industry between “life of luxury on a paradise island” money and “the company would rather not publicise this because the reputational damage will cost them more than just eating the loss”. Nowadays they’ve got to file a report if an employee finds a way to escape with even a mere couple of million, which put a stop to everyone’s fun!
I worked in a grocery store a number of years ago, and when I got promoted to the job that gave me access to some of the secure areas, I had the same realisation. At any given moment, there was...
I worked in a grocery store a number of years ago, and when I got promoted to the job that gave me access to some of the secure areas, I had the same realisation. At any given moment, there was considerably more cash in the safe than was in all of the tills combined, and it was an old enough store that they didn’t have a time-based safe. I was also regularly on the closing shift, and sometimes alone, so there would be nothing physically stopping me from taking all the cash in the store just before locking up.
But also, the total amount in the safe was less than I made in a year (which was also not that much), so it was immediately pretty clear to me that it would never be worth it, even if I thought I could obfuscate or dodge the cameras to get more of a head start.
I hate to say it, but this is pretty good evidence of AI providing a productivity boost. Not a good productivity boost (in this instance), but clearly a productivity boost nonetheless.
I hate to say it, but this is pretty good evidence of AI providing a productivity boost. Not a good productivity boost (in this instance), but clearly a productivity boost nonetheless.
This was amusing to me, and I immediately pictured someone in court arguing “no your honour, all these purchases on the company card aren’t fraud, it’s stimulating the economy!”
This was amusing to me, and I immediately pictured someone in court arguing “no your honour, all these purchases on the company card aren’t fraud, it’s stimulating the economy!”
http://archive.today/lvchA
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Trip expenses and medical receipts are probably pretty easy to falsify. It could even be as easy as asking the next table for their receipt. But is it worth losing a job over?
Amusingly, there are some specific reporting requirements in the financial sector because apparently on a few occasions employees realised that there was an overlap in that industry between “life of luxury on a paradise island” money and “the company would rather not publicise this because the reputational damage will cost them more than just eating the loss”. Nowadays they’ve got to file a report if an employee finds a way to escape with even a mere couple of million, which put a stop to everyone’s fun!
You got it! I’ve always thought there’s a lot summed up about modern economics in that one…
Wow I was thinking way too small. Stealing millions is probably safer than stealing bread.
I worked in a grocery store a number of years ago, and when I got promoted to the job that gave me access to some of the secure areas, I had the same realisation. At any given moment, there was considerably more cash in the safe than was in all of the tills combined, and it was an old enough store that they didn’t have a time-based safe. I was also regularly on the closing shift, and sometimes alone, so there would be nothing physically stopping me from taking all the cash in the store just before locking up.
But also, the total amount in the safe was less than I made in a year (which was also not that much), so it was immediately pretty clear to me that it would never be worth it, even if I thought I could obfuscate or dodge the cameras to get more of a head start.
I hate to say it, but this is pretty good evidence of AI providing a productivity boost. Not a good productivity boost (in this instance), but clearly a productivity boost nonetheless.
This was amusing to me, and I immediately pictured someone in court arguing “no your honour, all these purchases on the company card aren’t fraud, it’s stimulating the economy!”