The European Central Bank (ECB) wants banks in the eurozone to quickly prepare for possible cyber attacks carried out using Anthropic’s Mythos AI model or similar tools. Dutch ECB board member Frank Elderson made this call on Wednesday in a newsletter from the central bank.
Source: ANP, Reuters
Mythos is able to quickly detect security holes. This can be useful for banks to get their own security in order. But when criminals get their hands on the technology, banks’ systems can become prey. Several cybersecurity experts and regulators have warned about this recently.
Lack of access is not an excuse for inaction. Banks must act now
An additional problem for European banks is that access to Mythos is still very limited. As a result, they cannot yet use the tool themselves. Central Bank President Christine Lagarde said earlier this month that the ECB was studying defense measures against Mythos-led cyber attacks, but would be disadvantaged by limited access.
The global gap in access to the AI model could widen significantly for Europe, with Japan’s three largest banks likely to be cleared to start working with Mythos in about two weeks.
But according to Elderson, banks should not continue to hide behind this limited access. “Lack of access is not an excuse for inaction. On the contrary, it makes it all the more important that banks take action now.”
