ESRB warns that frontier AI models could heighten cyber risks to the EU financial system, enabling more sophisticated attacks and requiring stronger supervisory focus on AI-related threats

The EBA, EIOPA and ESMA support the ESRB’s warning that frontier AI models could increase the scale, speed and sophistication of cyber-attacks affecting the financial system. They note that DORA and the AI Act provide important foundations for resilience, while stressing the need for continued monitoring of how AI-enabled cyber threats may affect financial stability…