Euro zone lenders must submit AI cybersecurity strategies within four months as regulators warn of systemic risks from advanced AI threats.
The European Central Bank has directed euro zone banks to develop plans to counter AI-driven cyber threats within four months. The move follows growing regulatory concerns over sophisticated AI models that could disrupt financial systems and erode trust in payments infrastructure.
Banks must prioritize safeguarding internet-facing systems, third-party software, and open-source components while accelerating vulnerability fixes. The ECB also urged lenders to modernize outdated technology, enhance cyber hygiene, and improve crisis management protocols. The deadline for submissions is October 31.
To support compliance, the ECB postponed a separate IT survey and may adjust supervisory inspections. The European Systemic Risk Board warned that large-scale cyber disruptions could trigger bank runs and systemic instability.