UK officials warn AI could enable bank theft within months

Government security experts, in partnership with the AI Security Institute, warn that AI could soon be weaponised by hackers to infiltrate bank accounts within three to five months. They point to Chinese AI research that strips safety features, allowing malicious actors to exploit models without restrictions. A senior official said Russian and Nigerian hackers could soon obtain tools capable of cracking even the most robust passwords.

The Financial Stability Institute echoed these concerns, noting that some technologies may give attackers only a few hours to act and urging banks to reinforce their defenses. Ministers are debating whether proportionate, targeted measures are needed to protect national security without stifling innovation. The government also reminded businesses to adopt Cyber Essentials and follow National Cyber Security Centre guidance.