Australia regulator calls for urgent cybersecurity action to counter Mythos
· CNA · JoinRead a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST
SYDNEY, May 8 : Australia's corporate regulator has urged the country's financial sector to take urgent action on tackling potential cyber risks from frontier AI systems such as Mythos.
The Australian Securities and Investments Commission on Friday published a letter sent to the financial services industry saying greater action needed to be taken on ensuring cybersecurity practices are as strong as possible.
"Cyber risk has entered a new era, the advent of frontier AI models creates opportunity but also materially increases risk, with the ability to expose vulnerabilities faster than many realise," Simone Constant, ASIC commissioner, said.
"Do not wait for perfect clarity to address the threat posed by new AI models. Instead, act now, and act with discipline, to strengthen the cyber resilience fundamentals that underpin your business."
CNA Games
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
Show More
Show Less
Potential risks posed by Mythos, which has high-level coding capabilities, have given it a potentially unprecedented ability to identify cybersecurity vulnerabilities, experts have warned.
Anthropic, which developed Mythos, did not immediately respond to a request for comment on ASIC's letter.
The ASIC warning follows Australia's banking regulator last month saying the domestic financial services industry's information security practices were struggling to match the rate of change in AI.
"The clock is at a minute to midnight – if you aren’t on top of your cyber resilience already, the time to act and prepare is right now," Constant said.
Anthropic has launched Claude Mythos Preview under Project Glasswing, a tightly restricted access programme that includes major technology firms such as Amazon, Microsoft, Nvidia and Apple.
The ability of central banks and financial regulators to monitor and combat the risks posed by AI models has been called into question after a survey found authorities significantly lag financial firms in AI adoption and lack data on emerging harms.
Financial institutions are adopting AI at more than twice the rate of their supervisors, with just two in 10 regulators reporting "advanced AI adoption," research published in April by the Cambridge Centre for Alternative Finance showed.
Newsletter
Week in Review
Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app