OSFI warns Canadian banks and insurers of AI cyber risks
Canada's banking regulator sent a heads-up to banks and insurers earlier this year: advanced AI systems are getting better at finding security gaps, and they're doing it faster than ever.
With worries rising about these new cyber risks, the Office of the Superintendent of Financial Institutions (OSFI) wants tech and security teams to stay alert and ready.
RBC TD BMO boost AI cybersecurity
OSFI's email gave tips on how to step up risk strategies, especially with tools like Anthropic's Claude Mythos now in the mix, an AI that's pretty good at breaking into older systems.
Big Canadian banks like RBC, TD, and BMO are already boosting their investments in AI-powered cybersecurity.
RBC's CTO, Bruce Ross, said the industry is dealing with it by building its own AI defenses and will continue to do that.
OSFI is encouraging all financial institutions to strengthen their governance as these threats keep evolving.