AI's threat to your money

AI's rapid advance is raising the risk of both large-scale attacks on financial infrastructure and small, targeted fraud that can drain individual accounts. Banks have long been the gold standard for cybersecurity—but they need to move faster in an AI world. Fraudsters are already ahead of the banks. Everyday AI fraud is a growing concern as models get cheaper and more capable—but the bigger threat is infrastructure-level attacks. The risk isn't just theoretical. Policymakers and banks are already preparing for worst-case scenarios. Anthropic has begun a tightly controlled release of its Mythos model, the first AI system that it says could cripple parts of the internet, including major financial institutions. Treasury Secretary Scott Bessent and Fed Chair Jerome Powell called a meeting with the biggest names on Wall Street to discuss Mythos. The meeting focused on risks of AI-powered attacks on bank systems as well as preventative measures.