Impacted by the Mythos large model, Wall Street regulators suspend some banks' cybersecurity inspections.
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US financial regulators are pausing certain cybersecurity reviews of major banks, as both regulators and those being regulated need time to understand the boundaries of risk in the face of cybersecurity threats brought by artificial intelligence.
According to Bloomberg, the Federal Reserve and the Office of the Comptroller of the Currency (OCC) have suspended some cybersecurity-related inspections at major banks, giving them time to assess and respond to the system vulnerabilities exposed by Anthropic’s new AI model, Mythos, and reinforce their systems before inspections resume.
However, postponing inspections does not mean weaker regulation; regulators are still maintaining communication with institutions regarding cybersecurity issues.
Michelle Bowman, the Fed’s Vice Chair for Supervision, said earlier this month that regulators would "continue to monitor major developments, communicate relevant risks to regulated institutions, and constantly improve cybersecurity regulatory approaches."
Mythos shakes Wall Street, Executives issue urgent warnings
The event originated from Anthropic’s release of the Mythos model last month. The company actively restricted access upon launch and warned that the technology could be used to carry out cyberattacks.
For this reason, Anthropic established a special initiative called "Project Glasswing," granting access only to a select few institutions, including Apple and JPMorgan Chase, to allow them priority testing of their own network defenses.
In April this year, US Treasury Secretary Besant and then Fed Chair Powell jointly convened Wall Street executives to warn about the cybersecurity risks posed by Mythos and other AI models. Since then, the banking industry and regulatory agencies have continued consultations, jointly studying systematic responses to the vulnerabilities exposed by Mythos.
Major banks form special teams to strengthen cyber defenses
Within major banks, Mythos’s capabilities quickly alerted some executives—the model can rapidly scan code and accurately identify hacker vulnerabilities. However, after several weeks of testing, the initial shock has gradually settled into a substantial list of tasks.
Main banks like JPMorgan Chase, Morgan Stanley, and Goldman Sachs have formed special teams specifically focused on Mythos technology. According to insiders, several banks are also working directly with federal intelligence agencies to systematically map potential threat landscapes.
Goldman Sachs CEO David Solomon said in April this year that the bank is working with security vendors to strengthen its defense systems.
JPMorgan Chase CEO Jamie Dimon, in an interview last week, also said the bank is cooperating with peers and vendors to ensure systems are battle-ready. "This is very serious work," Dimon said, "I think we now have hundreds of people working full-time on this."
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