The European Central Bank requires banks to submit action plans to address AI cybersecurity threats by the end of October

The European Central Bank requires banks to develop plans to address the threats posed by cutting-edge AI models such as Anthropic's Claude Mythos to cybersecurity. Claudia Bucher, the Chief Regulatory Officer of the European Central Bank, has demanded that lending institutions submit action plans by the end of October and urged banks to accelerate software patch updates, strengthen AI driven network defenses, enhance supervision of third-party suppliers, and modernize infrastructure. Claudia Bucher stated that the European Central Bank is calling on important institutions to immediately assess the impact of the threat situation and develop comprehensive action plans. European Central Bank President Lagarde warned last month that artificial intelligence could lead to a financial crisis and stated that bank CEOs need to ensure they are prepared. The European Central Bank has conducted cyber attack tests on 109 banks and most of the identified weaknesses have been resolved.