Banking regulators sound alarm over cyberattacks World Just now

Like their US counterparts, UK supervisors are also asking banks to use frontier AI to identify vulnerabilities and accelerate patching, two people said, with one adding that lenders were so far doing a good job.

In Europe, supervisors including the Bank of England and the European Central Bank are pressing banks to improve recovery plans, concerned that rapid advances in AI could cause serious harm and disruption in financial markets sooner than previously feared, three people with knowledge of their thinking said.

What you need to know: US regulators ask about agentic AI safeguards, people sayConcerns grow among supervisors after spate of recent incidentsEuropeans urge banks to examine recovery plans, people say Banking regulators are stepping up efforts to contain growing AI risks, six people familiar with the matter said, with some pointing to the potential for cyberattacks on banks or rogue agents undermining global financial stability.