AI hacking incidents heighten risks to financial security, Bank of England warns

Firms are spending significant sums to ward off the threat of hacks (Alamy/PA) -

A rise in AI test security incidents has heightened the need for firms to brace for cyber attacks, the Bank of England said as it warned of increased threats to the UK’s financial stability.

The Bank’s Financial Policy Committee (FPC) said the risk outlook for the UK economy has worsened since July, and interconnected vulnerabilities in the financial system were more likely to become concrete at once.