Japan is establishing a new financial cybersecurity task force to address rising concerns over artificial intelligence-related security risks in its financial system, according to Finance Minister Satsuki Katayama.

The decision was made during a high-level meeting involving the Financial Services Agency (Japan), the Bank of Japan, the National Cybersecurity Office, major domestic banks, and the Japan Exchange Group, News.Az reports, citing Reuters.

Officials said the move comes amid growing concern about vulnerabilities linked to advanced artificial intelligence systems and their potential impact on critical financial infrastructure.

Katayama described the situation as an urgent risk, warning that cyber threats affecting financial systems could quickly escalate into broader market disruptions.

Concerns have intensified following reports about the capabilities of the AI model “Mythos” developed by Anthropic, which reportedly identified thousands of vulnerabilities across major operating systems and web browsers in early testing.

Security experts warn that advanced AI tools may significantly accelerate the discovery and exploitation of software weaknesses, potentially outpacing the ability of institutions to respond with patches and fixes.

Banks are considered particularly exposed due to their reliance on highly interconnected, often legacy systems that are increasingly targeted by sophisticated cyberattacks.

Regulators in Asia, Europe, and the United States have also urged financial institutions to strengthen their cybersecurity defences and prepare for AI-driven threats.

While no breaches linked to the model have been reported so far, officials say the risk landscape is evolving rapidly as AI capabilities expand.

Authorities emphasized that the interconnected nature of financial markets means that any major cyber incident could spread quickly and impact investor confidence and market stability.

News.Az 

By Aysel Mammadzada