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AI concerns over cyberattacks on banks
The article discusses the escalating risks associated with artificial intelligence in the global banking sector, as cyber threats and devastating cyberattacks increase, potentially jeopardizing the stability of financial markets. Reports indicate that regulatory bodies, including the Federal Reserve and European central banks, are inquiring with banks about their use of AI models and automation technologies, with expectations of rising costs and improved recovery plans. The International Fund also warns that markets' failure to strengthen their cybersecurity capabilities could expose the financial system to major attacks. Meanwhile, worldwide financial crime losses continue to grow, reaching $579.4 billion in 2025, amid increasing use of AI technology in both the development and prevention of such attacks.
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