OSFI tells banks AI is closing their window to fix cyber flaws: Reuters
The regulator also said institutions can use frontier models to prioritize risks and speed up patching, turning the technology on the problem it creates.
The Canadian warning tracked an earlier move in the United States, where US Treasury Secretary Scott Bessent and Jerome Powell, then chair of the US Federal Reserve, called Wall Street leaders to an urgent meeting over concerns that Anthropic’s latest model would raise cyber risk.
Bank of Canada Governor Tiff Macklem said governments and regulators need to move fast while playing down any immediate crisis.
“At the moment, there is no actual live cyber incident,” Macklem told reporters in Washington, according to The Globe and Mail, though he warned the models can find and exploit weaknesses far faster than before.
The Canadian Financial Sector Resiliency Group, which the Bank of Canada chairs and which includes other regulators and the big banks, met twice in one week on the fallout, the outlet reported, and Finance Minister François-Philippe Champagne raised the matter with Bessent.
