Fake Expense Reports on the Rise Thanks to AI-Generated Receipts: Companies Under Siege as Scammers Get Smarter.
Artificial intelligence is being used by employees to create convincing fake expense reports, including receipts, that are so realistic they can fool human reviewers. The emergence of new image-generation models from top tech groups such as Google and OpenAI has led to a significant increase in AI-generated receipts, with some platforms reporting a 14% rise in fraudulent documents submitted in just one month.
The fake receipts often include detailed itemization, signatures, and even wrinkles in paper, making them almost indistinguishable from real ones. Companies are now struggling to keep up as scammers get smarter and more sophisticated. Fintech group Ramp said its new software had flagged over $1 million in fraudulent invoices within 90 days.
The rise of AI-generated receipts has left companies feeling under siege. "These receipts have become so good, we tell our customers, 'do not trust your eyes,'" said Chris Juneau, senior vice-president and head of product marketing for SAP Concur, one of the world's leading expense platforms. The company processes over 80 million compliance checks monthly using AI.
Several platforms attributed a significant jump in the number of AI-generated receipts after OpenAI launched its improved image generation model in March. Creating fake documents previously required skills in photo editing or paying for such services through online vendors. However, with the advent of free and accessible image generation software, employees can now quickly falsify receipts in seconds by writing simple text instructions to chatbots.
Companies are turning to AI to help detect fake receipts, as most are too convincing to be found by human reviewers. The software works by scanning receipts to check metadata and other contextual information, such as repetition in server names and times. However, users can easily remove this metadata by taking a photo or screenshot of the picture.
The rise of AI-generated receipts has significant implications for organizations. Research by SAP found that nearly 70% of chief financial officers believed their employees were using AI to attempt to falsify travel expenses or receipts. Mason Wilder, research director at the Association of Certified Fraud Examiners, said AI-generated fraudulent receipts were a "significant issue" for companies.
With the zero barrier to entry for creating fake documents, there is no excuse for companies not to take this threat seriously. The use of AI-generated receipts has become an age-old scam, but it's now happening in real-time and with alarming frequency. Companies must stay vigilant and adapt their systems to detect these sophisticated scams before they can cause significant damage.
Artificial intelligence is being used by employees to create convincing fake expense reports, including receipts, that are so realistic they can fool human reviewers. The emergence of new image-generation models from top tech groups such as Google and OpenAI has led to a significant increase in AI-generated receipts, with some platforms reporting a 14% rise in fraudulent documents submitted in just one month.
The fake receipts often include detailed itemization, signatures, and even wrinkles in paper, making them almost indistinguishable from real ones. Companies are now struggling to keep up as scammers get smarter and more sophisticated. Fintech group Ramp said its new software had flagged over $1 million in fraudulent invoices within 90 days.
The rise of AI-generated receipts has left companies feeling under siege. "These receipts have become so good, we tell our customers, 'do not trust your eyes,'" said Chris Juneau, senior vice-president and head of product marketing for SAP Concur, one of the world's leading expense platforms. The company processes over 80 million compliance checks monthly using AI.
Several platforms attributed a significant jump in the number of AI-generated receipts after OpenAI launched its improved image generation model in March. Creating fake documents previously required skills in photo editing or paying for such services through online vendors. However, with the advent of free and accessible image generation software, employees can now quickly falsify receipts in seconds by writing simple text instructions to chatbots.
Companies are turning to AI to help detect fake receipts, as most are too convincing to be found by human reviewers. The software works by scanning receipts to check metadata and other contextual information, such as repetition in server names and times. However, users can easily remove this metadata by taking a photo or screenshot of the picture.
The rise of AI-generated receipts has significant implications for organizations. Research by SAP found that nearly 70% of chief financial officers believed their employees were using AI to attempt to falsify travel expenses or receipts. Mason Wilder, research director at the Association of Certified Fraud Examiners, said AI-generated fraudulent receipts were a "significant issue" for companies.
With the zero barrier to entry for creating fake documents, there is no excuse for companies not to take this threat seriously. The use of AI-generated receipts has become an age-old scam, but it's now happening in real-time and with alarming frequency. Companies must stay vigilant and adapt their systems to detect these sophisticated scams before they can cause significant damage.