ECB warns banks of AI-driven cyberattack risks, demands urgent action

The European Central Bank has called on the largest eurozone banks to urgently strengthen their cybersecurity measures, warning that the rapid development of artificial intelligence is significantly increasing the speed and scale of cyberattacks.

In a letter dated July 7, Claudia Buch, Chair of the ECB’s Supervisory Board, wrote to the chief executives of credit institutions, noting that modern artificial intelligence systems can now identify software vulnerabilities and generate functional...