Bank of England, FCA and Treasury Raise Alarm Over Frontier AI

The UK government, Financial Conduct Authority and Bank of England issued a joint advisory urging financial services firms to actively manage cybersecurity risks posed by frontier AI. The statement highlights that advanced AI can amplify cyber threats at greater speed and scale and recommends actions across governance, vulnerability management, third-party risk, protection (access/network/data controls and AI-enabled defenses), and response and recovery, while pointing firms to NCSC resources and ongoing engagement via CMORG.