FCA calls on firms to plan for frontier AI cyber risks

In a joint statement with the Bank of England and UK Treasury released on Friday last week (15 May), the FCA said it is essential that firms have "effective protective, detective, threat containment and cyber response capabilities including to address faster and more disruptive frontier AI-driven attacks". The government and UK financial authorities believe firms should be taking active steps across several domains, including governance and strategy, identification and risk management of vulnerabilities, managing risks from third parties, protection and response and recovery. Firms sh...