How many fraud model AI incidents have banks had since 2022?
As of Oct 21, 2026, the register holds 1 publicly reported AI incident at banks and fintechs in the fraud model category since January 2022. 0 of the 1 record involve systems the institution or a regulator described as AI; 1 is an automated system not described as AI. Countries: United States (1). Average severity 4.0 on a 1–5 scale. Status: 1 settled. The most recent is "Regulators fine Bank of America $225m over automated fraud filter that froze unemployment-benefit cards" (Jul 14, 2022).
Incidents
| Date | Institution | Incident | AI? | Role | Category | Severity | Status |
|---|---|---|---|---|---|---|---|
| Jul 14, 2022 | Bank of America | Regulators fine Bank of America $225m over automated fraud filter that froze unemployment-benefit cards | Automation, not AI | Institution's own AI | Fraud model | 4 | Settled |
Navigate
When AI goes wrong at a bank, the next morning's brief says so.
when one of these regulators moves, the next morning's brief says so · six sourced stories · 7 am PT · free
plus every regulation, bank and agent page update, the morning after · leave any morning