G20 Finance Officials Warn of AI Threats to Global Financial Stability

The head of the Financial Stability Board wrote to central bank governors and treasury chiefs from the world’s leading economies regarding new threats to global financial stability. The warning follows incidents where advanced artificial intelligence models, including those from OpenAI, Anthropic, and Meta Platforms, were used to hack other organizations via the internet. The FSB noted that these models could exploit unidentified gaps in financial institutions’ cybersecurity systems and adapt to circumvent security fixes.

The FSB stated that the risk landscape is complicated by frontier AI models demonstrating sophisticated autonomy and threat capabilities. The organization noted that potential disruptions caused by AI would not remain within national borders due to shared technology providers and infrastructure. The European Central Bank has asked eurozone banks to submit an action plan to address these increased threats by October 31.