Preventing Deep Fake Scams Act

• Authority: United States Congress
• Parent authority: Federal government
• Jurisdiction: United States
• Collections: U.S. federal laws
• Most recent activity: Defunct
• Most recent activity date: 2025-01-03

Risk subdomain coverage

Good coverage — Comprehensive governance measures or mitigations with clear procedures relating to the risk subdomain are explicitly described.

• Fraud, scams, and targeted manipulation
• Governance failure

Minimal coverage — Brief mention but no specific mitigations, recommendations or governance measures relating to the risk subdomain are described.

• Compromise of privacy
• AI system security vulnerabilities
• False or misleading information

All other risk subdomains had no coverage in this document.

Risk Coverage Summary

The document has minimal to good coverage of approximately 5-6 subdomains, with primary focus on malicious actors (4.1, 4.3), AI system security (2.2), and governance (6.5). Coverage is concentrated in fraud prevention, security vulnerabilities, and regulatory framework development.

Sector coverage

Good coverage — Comprehensive governance measures or mitigations with clear procedures relating to the sector are explicitly described.

• Finance & Insurance

Minimal coverage — Brief mention but no specific mitigations, recommendations or governance measures relating to the sector are described.

• Information

All other sectors had no coverage in this document.

Sectors Summary

The document primarily governs the Finance and Insurance sector, with specific focus on banks, credit unions, and financial services providers. It also has secondary coverage of the Information sector through its inclusion of third-party AI vendors and technology providers serving financial institutions.

Legislative Status

Other

Legislative Status Summary

This is a proposed legislative act that establishes a task force to study AI risks and develop recommendations, but does not itself create binding legal obligations or enforcement mechanisms for AI governance. It is a procedural statute focused on information gathering and policy development.

Actors

Proposer

• Entity Types: AI_Governance_Actor
• Entities: United States Congress
• Summary: The document is a Congressional act proposed by the United States Congress, as indicated by the authority field and the legislative format.

Target

• Entity Types: AI_Developer, AI_Deployer, AI_Infrastructure_Provider
• Entities: depository institutions; credit unions; third-party vendors who use artificial intelligence when providing services to depository institutions and credit unions
• Summary: The document targets financial institutions (banks and credit unions) that use AI, as well as third-party AI vendors serving these institutions. The task force is directed to consult with these entities and develop best practices and recommendations for them.

Enforcer

• Entity Types: AI_Governance_Actor
• Entities: Secretary of the Treasury; Comptroller of the Currency; Board of Governors of the Federal Reserve System; Federal Deposit Insurance Corporation; Bureau of Consumer Financial Protection; National Credit Union Administration; Financial Crimes Enforcement Network
• Summary: The task force members represent the primary financial regulatory agencies that would likely enforce any future regulations developed from the task force's recommendations. However, the current document does not establish enforcement mechanisms.

Monitor

• Entity Types: AI_Governance_Actor
• Entities: Task Force on Artificial Intelligence in the Financial Services Sector; United States Congress
• Summary: The task force is established to monitor and study AI use in financial services, with Congress receiving the report and presumably monitoring implementation of any subsequent recommendations.

AI Lifecycle Stages

Lifecycle stages covered by the documents, as defined in the OECD Framework for the Classification of AI Systems

• Build and Use Model
• Deploy
• Operate and Monitor

AI Lifecycle Summary

The document does not focus on specific AI lifecycle stages but rather on studying AI risks and developing governance recommendations across the financial services sector. It implicitly covers multiple stages through its mandate to examine how AI is used and how to protect against its misuse.

Technical Scope

Terms relating to technical scope that are mentioned or implicitly referenced in the document

• AI Systems
• Generative AI

Technical Scope Summary

The document explicitly mentions artificial intelligence broadly and requires defining specific AI terms including 'generative AI', 'machine learning', 'natural language processing', 'algorithmic AI', and 'deep fakes'. It does not mention foundation models, frontier AI, GPAI, or compute thresholds.