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Official tells banks to invest more to get a grip on AI security risk - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Official tells banks to invest more to get a grip on AI security risk Luis de Guindos Cyber Risks , Risk Management European Union May 27, 2026 (Reuters) – Euro zone banks need to invest more in cybersecurity if they are to get a grip on new AI models that can find flaws in software, the European Central Bank’s outgoing Vice President Luis de Guindos said on Wednesday. New large language models such as Anthropic’s Mythos are viewed by cybersecurity experts as posing significant challenges to the banking industry and its legacy technology systems, prompting a series of warnings from regulators and policymakers around the world. The ECB has been quizzing euro zone banks about their preparedness for weeks, including at a meeting this week, and Mr. de Guindos said the sector needed to reach deeper into its pockets to strengthen its defenses against cyberattacks powered by AI. “We have to understand much better the potential implications of these new models and to try to put in place the systems and cybersecurity patches that can address that situation,” Mr. de Guindos, whose term runs out at the end of the month, told reporters. “And (we have) to try to start to enhance the awareness of the financial institutions, of the banks, about the need of additional cybersecurity investment, because it’s going to be something that is going to be quite structural in the near future.” He said the meeting with euro zone lenders on Tuesday featured a presentation by a U.S. bank which, unlike its counterparts on this side of the Atlantic, has had access to Mythos. “The main message to everyone is cyber is becoming more and more important,” Mr. de Guindos said. “We have to invest more. 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