New technologies, like artificial intelligence and digital assets, give scammers many new tools, and, frankly, I worry that our regulators will be quickly outgunned.
Editor's note · Context
Foster expresses concern about regulators being outmatched by new technologies used in scams.
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over 82 percent of Americans and 77 percent of Republicans support the mission of the CFPB.
In fact, last November, a cybersecurity breach of third-party service providers disrupted the operations of 60 credit unions across 40 States.
Many financial firms I talked to just told me that a reliable form of digital ID would really simplify the Anti-Money Laundering/Know Your Customer (AML/KYC) process, and make it faster, cheaper, and more reliable when they have to confirm the identity of customers.
We must instill transparency and accountability. We must protect American innovation from the political whims of unelected bureaucrats.





