this post was submitted on 14 Feb 2025
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Fake news generated by artificial intelligence and spread on social media is heightening the risks of bank runs, according to a new British study that says lenders must improve monitoring to detect when disinformation risks impacting customer behaviour.

Generative AI can be used to create fake news stories saying that customer money is not safe, or memes appearing to joke about security issues, which can be spread on social media using paid adverts, said the study, published by UK research company Say No to Disinfo and communications firm Fenimore Harper.

Banks and regulators are increasingly concerned about the risks of bank runs fuelled by social media, following the collapse of Silicon Valley Bank in 2023, in which depositors withdrew $42 billion in 24 hours.

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[–] cm0002@lemmy.world 4 points 1 week ago* (last edited 1 week ago) (2 children)

Fuck em, the only reason bank runs are a problem is because banks will use your money for investment purposes so they never have the complete amount of money they should have on hand.

Fuck em.

[–] wetsoggybread@lemmy.world 7 points 1 week ago

Its not like they're taking your money to las vegas and gambling on red. They use that money to provide loans for others who apply for them. The interest they make on those loans is also how you make interest on your savings account, its also why when the governmwnt raises or lowers the interest rates for loans it also affects the rate you get for your savings account and CDs

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