"US Treasury Urges Financial Sector to Address AI Cybersecurity Threats"
The US Department of the Treasury has issued a warning about the cybersecurity risks posed by Artificial Intelligence (AI) to the financial sector. The report, based on Presidential Executive Order 14110 on the "Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence," also makes a number of recommendations for financial institutions on how to mitigate these risks. Financial services and technology companies interviewed for the report recognized the threat posed by advanced AI tools such as generative AI, with some acknowledging they will initially give threat actors the "upper hand." AI technologies increase the sophistication of attacks such as malware and social engineering while lowering barriers to entry for less-skilled attackers. Other ways cyber threat actors can use AI to target financial systems were highlighted, including vulnerability discovery and disinformation, as well as deepfakes to trick companies by impersonating individuals such as CEOs. This article continues to disucss AI-based cyber threats faced by the financial sector.
Submitted by grigby1