European Central Bank Requires Banks to Submit Plans to Address AI Cybersecurity Threats

According to a report by Golden Finance, on July 7, the European Central Bank (ECB) requested banks to formulate plans to address the growing cybersecurity threats posed by advanced AI models such as Anthropic's Claude Mythos. In a letter to the CEOs of various banks, ECB's Chief Supervisory Officer Claudia Buch asked lending institutions to submit action plans by the end of October. She urged banks to expedite software patch updates, strengthen AI-driven cyber defenses, and enhance oversight of third-party vendors. In the long term, banks need to modernize their infrastructure. Buch stated: "The ECB calls on key institutions to immediately assess the impact of the evolving threat landscape and develop comprehensive action plans outlining specific measures to strengthen relevant controls." Last month, ECB President Christine Lagarde warned that artificial intelligence could lead to financial crises and emphasized that bank CEOs must ensure preparedness, recognizing that countermeasures require significant investment. The ECB has conducted severe scenario-based cyberattack tests on 109 banks, with most identified vulnerabilities already addressed.