Germany's banking regulator, BaFin, has issued a stark warning about the growing cybersecurity risks posed by artificial intelligence.
President Mark Branson announced the creation of a new division to conduct targeted, rapid-fire 'IT spotlight inspections' at financial firms. The move comes as the industry grapples with the emergence of advanced AI models.
Branson stated that these new AI models can identify vulnerabilities in IT systems with remarkable speed and can exploit them even faster. He called cybersecurity an 'urgent and essential investment' that the financial industry can afford.
The regulator specifically cited one AI model, Anthropic's Mythos, which has already been granted access to several U.S. banks and is viewed by experts as a significant challenge to legacy banking technology.