ECB gives eurozone banks until October to draft AI cyber defenses
The post ECB gives eurozone banks until October to draft AI cyber defenses appeared on BitcoinEthereumNews.com. Big-time lenders in the eurozone have until October 31 to present an action plan to the European Central Bank (ECB), according to an order from the regulator to ensure that the region’s biggest lenders all score passing grades on their preparedness to defend against AI-driven cyberattacks. The warning from the apex bank on the Old Continent arrives as the newest AI models have routinely gotten better at finding and exploiting software flaws faster than anyone can patch them, as noted in earlier Cryptopolitan reports. Which European banks need to come up with AI action plans? The ECB instruction that became public on July 7 was sent as letters to bank chief executives. However, the missive matters to every stakeholder, including anyone who moves money through the European financial system. Claudia Buch, who sits at the head of the ECB’s supervisory board, told CEOs to spell