Japan launches financial task force amid AI security fears

By Makiko Yamazaki

TOKYO, ‌April 24 (Reuters) - Japan ​will ​set up a task force to address cybersecurity risks in its financial system following concerns ‌about potential vulnerabilities linked to Anthropic's Mythos AI ⁠model, Finance Minister Satsuki Katayama said on Friday.

The decision was agreed ‌at a meeting involving ‌the Financial Services Agency, the Bank of Japan, the National Cybersecurity Office, the country's top three banks and ​Japan Exchange Group, Katayama told reporters.

"I told the meeting that this is a crisis that is already ⁠at hand, and similar concerns were also voiced by the financial industry," ​she said.

Concerns have intensified after Anthropic said a preview of Mythos uncovered "thousands" of major vulnerabilities ​across every major operating system and ‌web browser, raising fears about the resilience of traditional software security.

Experts warn the model ⁠can identify and exploit previously unknown vulnerabilities faster than companies can repair them, accelerating cyberattacks in sectors such as banking ⁠that rely on complex, interconnected and often decades-old technology.

Regulators elsewhere in ​Asia, Europe and the United States have warned banks to review defences and preparedness. To date, there have been no reported ‌breaches related to the model.

Katayama said the financial system's high level of interconnectedness and real-time ‌operations mean that problems can spread more rapidly than ⁠in other sectors.

"Because of ‌this, a cyberattack ​can immediately spill over into market disruptions and undermine confidence."

(Reporting by Makiko Yamazaki; Editing by Sam ‌Holmes)

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