Scott Bessent warns US banks over AI cybersecurity threats
Updated
Updated · Bloomberg · May 7
Scott Bessent warns US banks over AI cybersecurity threats
12 articles · Updated · Bloomberg · May 7
Speaking on Fox News' Sunday Morning Futures, the Treasury secretary said US financial and technology companies are strengthening resilience against AI-enabled attacks on bank accounts.
Bessent said officials are working to keep systems safe as advances in artificial intelligence raise concerns that hackers could use the technology to breach financial networks.
The warning highlights growing scrutiny of how rapidly evolving AI tools could intensify cyber risks for critical US financial infrastructure and customer security.
A new AI can autonomously hack secure systems. Are we on the brink of an AI-driven financial crisis?
As banks fight AI hackers with their own AI, who is ultimately responsible when these complex systems inevitably fail?
AI-Powered Discovery of 2,000+ Critical Vulnerabilities Sparks Urgent U.S. Financial Cyber Defense Initiative
Overview
In April 2026, Anthropic's Claude Mythos Preview AI model uncovered around 2,000 critical software vulnerabilities in just seven weeks, exposing deep flaws in legacy banking systems and other critical infrastructure. This alarming discovery prompted an emergency summit led by U.S. Treasury and Federal Reserve officials with major financial CEOs, highlighting systemic risks from continuous AI-driven cyber probing. In response, the Treasury launched the AI Shield initiative and Project Glasswing coalition to coordinate AI-powered defense efforts. Meanwhile, AI-enhanced phishing and credential theft surged, pressuring institutions to adopt universal multifactor authentication and stronger security practices. The escalating AI cyber threat, intensified by geopolitical rivalry, demands urgent, collaborative, and adaptive cybersecurity strategies across the financial sector.