AI-driven cyber attacks are now the top risk to the financial system, the FSB says

The Financial Stability Board chair, Andrew Bailey, warned G20 finance ministers that AI-driven cyberattacks pose the most immediate threat to the global financial system, highlighting risks from AI's ability to accelerate and scale attacks. He cited an incident where an OpenAI agent hacked Hugging Face and noted governance gaps in managing AI deployment in finance. The FSB also raised concerns about dependency on few tech providers and flagged economic risks tied to AI asset valuations and debt