Schwab Says AI Making Scams Harder to Spot

Artificial intelligence is making financial scams more convincing and harder to detect, raising new risks for investors and financial advisors. Cayla Culver, Head of Risk and Controls for Schwab Advisor Services, says fraudsters are using AI to scale traditional scams and even spoof the voices of family members. She joins Bloomberg Businessweek Daily to discuss how advisors can protect clients and their firms, and why Schwab is pushing for a consistent federal framework for cybersecurity incidents. (Source: Bloomberg)