Technology

Thousands of “ghost students” use AI to steal millions in student loans, DOJ says

Summary

The United States Department of Justice has charged five people in a major fraud scheme involving artificial intelligence. The suspects allegedly used stolen identities to pose as college students and illegally collect federal student loans.

The US has charged five individuals as part of the first broad federal crackdown on “ghost students”—fraudsters who steal the identities of hundreds of Americans to pose as fake college students and steal student loans. In a press release Thursday, the Department of Justice said it had uncovered a large-scale scheme relying partly on AI. The DOJ seized more than…

Source: Read the full story at Ars Technica - All content

Follow Tech & Money Press for daily watchlists and market news

XFacebookInstagramTikTok
Disclaimer: This content is for informational and educational purposes only and is not financial, investment or trading advice. Tech & Money Press is not a registered investment adviser or broker-dealer. Trading stocks, options and crypto involves substantial risk, including the loss of your entire investment. Do your own research and consult a licensed professional before making any financial decision. The authors may hold positions in the securities mentioned. News summaries are written with AI assistance from the original publisher's report and may contain errors; always check the original source. Full disclaimer.
About UsContactPrivacy PolicyDisclaimer
Not financial advice. Curated headlines link to their original publishers.