Security Brief Australia reports that the Financial Services Sector Coordinating Council has released two publications on AI-driven threats to identity and authentication, developed with the American Bankers Association through a Treasury-backed initiative.The industry paper identifies 10 leading attack vectors, including deepfake impersonation, synthetic identity creation, and AI agents used to automate fraud. A companion paper outlines 20 policy actions, including developing next-generation remote identity proofing, expanding stronger authentication, coordinating international standards, and increasing consumer education. The papers also point to mobile driving licenses and digital credentials as part of the response. The work was co-chaired by the Better Identity Coalition, with more than 130 experts from financial institutions, technology companies, regulators, and government agencies contributing over 18 months.The Stop Identity Fraud and Identity Theft Act of 2026, introduced by Congressmen Sessions and Foster, would establish a Treasury grant program for states to develop NIST-compliant digital identity credentials. Better Identity Coalition coordinator Jeremy Grant said companies need concrete recommendations to protect consumers from identity theft as criminals leverage AI-powered deepfakes.
