FM Sitharaman Warns Bankers of Emerging AI Threats Amid Rising Concerns Over Anthropic Disruption

Finance Minister Nirmala Sitharaman Convenes High-Level Meeting to Assess Cybersecurity Risks Linked to Advanced AI Models

Finance Minister Nirmala Sitharaman convened a high-level meeting with heads of banks on Thursday to assess emerging cybersecurity risks linked to advanced artificial intelligence models. The meeting comes amid global concerns over Anthropic's Claude Mythos system and its potential implications for financial data security.

During the meeting, Sitharaman asked banks to take all necessary pre-emptive measures to secure their IT systems, safeguard customer data, and protect monetary resources. Banks were advised to establish a robust mechanism for real-time threat intelligence sharing among banks, the Indian Computer Emergency Response Team (CERT-In), and other relevant agencies. This would enable the early identification and dissemination of emerging threats across the ecosystem without delay.

The finance ministry also recommended that banks immediately report any suspicious activity or cyber incident to the relevant authorities, including CERT-In, and maintain close coordination with all agencies concerned. These recommendations were given during a high-level meeting chaired by Sitharaman, along with Minister for Electronics and Information Technology Ashwini Vaishnaw, with banks and key stakeholders.

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The meeting assumed significance in view of the recent development of the Claude Mythos AI model by Anthropic, which has claimed to have found vulnerabilities in many major operating systems. Sitharaman urged the Indian Banks' Association (IBA) to develop a coordinated institutional mechanism to respond swiftly and effectively to any such threats.

She also directed banks to engage the best available cybersecurity professionals and specialised agencies to continuously strengthen defensive and monitoring capabilities of banks. Appreciating the work done by banks so far in strengthening cybersecurity systems and protocols, Sitharaman emphasised that the nature of the emerging threat from the latest AI Model is unprecedented and requires a very high degree of vigilance, preparedness, and better coordination across financial institutions and banks.

According to a senior finance ministry official, the ministry and the Reserve Bank of India (RBI) are studying the extent of risks that the Indian financial sector faces from this breach. So far, Indian systems are secure, and there is no need for undue worrying, the official said, adding that the RBI is also doing due-diligence at its end to ensure India's financial sector is secure.

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Anthropic, an US-based artificial intelligence company, announced its new model Mythos on April 7 as part of its 'Project Glasswing' initiative. The model is deemed too dangerous for public release due to its unprecedented ability to identify digital security vulnerabilities and potential for misuse.