The rapid rise of generative AI has dramatically impacted the financial industry, presenting both challenges and opportunities in fraud prevention. This roundtable discussion will focus on its impact in the creation and manipulation of stolen and synthetic identity fraud. We'll explore how AI-generated identities are changing the threat landscape and affecting FIs' onboarding, risk assessment, and compliance processes while legitimate new customers are impacted by increased friction from false positive identification by legacy systems. We will delve into cutting-edge strategies to counter this evolving tactic, including advanced analytics, machine learning applications, and industrywide collaborative initiatives. Join us for this critical dialogue on adapting to the new era of AI-enhanced financial crime and fraud prevention.