AI Might Have Just Made Hacking A Bank Easier Than Ever, Finance Leader Says

An international financial leader just warned that artificial intelligence-driven cyber attacks were an immediate global financial risk.

Financial Stability Board Chair Andrew Bailey argued that advanced AI models have become the greatest cybersecurity threat to global financial institutions, according to a Monday press release. Bailey wrote a Friday letter to the G20 Finance Ministers and Central Bank Governors, enclosed in the Board’s press release, stating that AI is becoming more autonomous and developing threatening capabilities.

“For the financial system, the most immediate concern is the potential impact of frontier AI on cyber risk,” Bailey wrote, in his letter. “Frontier AI may have the ability materially to alter the speed, scale and economics of cyber risk, which could undermine market confidence system-wide, especially due to highly concentrated third-party service providers.”

“Firms and authorities should be prepared for a threat environment characterised by a higher volume of vulnerabilities and a faster pace of patching, recognising that these dynamics could themselves create operational and resilience challenges if change, testing and recovery processes are unable to adapt safely,” the British banker added.

He further argued that several jurisdictions lack policies to regulate advanced AI models as they release across the world and called for a global initiative to “support safe and responsible model release and deployment on a global basis.”

This comes after major AI companies’ AI models hacked into real companies during cybersecurity tests. Among these incidents were OpenAI‘s advanced models, including GPT-5.6 Sol,