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Global cooperation seems unlikely despite AI increasing the risk of digital fraud and the need to protect the financial systemRogue French fridges were an unlikely talking point for the world’s leading economists, central bankers and finance chiefs meeting in a sultry Bangkok last week – helping to underline the spiralling cost of cyber-attacks.Kristalina Georgieva, the
Andrew Bailey and Kristalina Georgieva voice concerns about financial system on panel about online fraud Business live – latest updatesThe heads of the Bank of England and the International Monetary Fund have issued a stark warning that rising cyber-attacks risk undermining trust in the financial system.Speaking on a panel about online fraud at the IMF
Bank of England and IMF bosses issue stark warning on cyber threat to trust Read More »
Andrew Bailey’s comments come as fears grow that rogue models could take financial system hostageBusiness live – latest updatesThe governor of the Bank of England has said authorities must retain the “right to intervene” in the AI industry amid growing fears that rogue models could take the financial system hostage.Andrew Bailey said the risks posed
We need ‘right to intervene’ in AI amid growing threat, says Bank of England boss Read More »
Andrew Bailey warns G20 members about risk of cyber-disruption spreading ‘across jurisdictions’The Bank of England’s governor, Andrew Bailey, has joined the throng of figures warning about the global risks posed by the most advanced artificial intelligence technology.In a two-page letter sent to international finance ministers and central bank governors as part of his role as
Advanced AI threatens global financial stability, says Bank of England boss Read More »
Andrew Bailey warns that US will not be able to achieve its ambitions aloneThe Bank of England governor has called for international cooperation to tackle growing AI threats, warning that the US and Trump administration would not be able to achieve their ambitions alone.Andrew Bailey’s comments come weeks after the US president, Donald Trump, temporarily
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Governor urges public to report fake images posted on X of him and Reform UK leader in fake Question Time clashThe Bank of England has warned the public against falling for AI-generated scams after deepfake videos of Nigel Farage fighting its governor spread online.Andrew Bailey, the head of the BoE, said AI-generated content related to
Bank of England warns on AI scams as deepfakes of Farage-Bailey fight spread Read More »
