IMF Warns AI-Powered Cyberattacks Could Threaten Global Financial Stability

WASHINGTON: The International Monetary Fund has warned that cyberattacks driven by advanced artificial intelligence could pose a major threat to global financial stability, urging stronger international cooperation to counter the growing danger.

In a newly released report on Thursday, the IMF said increasingly sophisticated AI tools are making it easier and faster for hackers to exploit weaknesses in the global financial system.

“IMF analysis suggests that extreme cyber-incident losses could trigger funding strains, raise solvency concerns, and disrupt broader markets,” the report stated.

The IMF highlighted that the highly interconnected nature of global banking and financial networks increases the risk of large-scale disruptions if cyberattacks target critical systems.

The report also warned that advanced AI models can “dramatically reduce” the time and cost needed to identify and exploit digital vulnerabilities, making future cyber threats more severe and difficult to contain.

The warning follows recent concerns raised by AI firm Anthropic regarding its unreleased AI model called “Mythos,” which reportedly demonstrated a powerful ability to detect and exploit hidden software flaws.

Experts fear such capabilities could be weaponised by cybercriminals to target so-called “zero-day vulnerabilities” — previously unknown weaknesses in software systems that can be extremely dangerous if exploited before developers issue fixes.

On Wednesday, White House economic adviser Kevin Hassett said the United States government and private sector were jointly testing advanced AI systems to ensure they do not threaten businesses or government infrastructure.

The US government also recently announced a new policy allowing federal authorities to review major tech companies’ advanced AI models before public release.

According to the IMF, emerging and developing economies may face greater risks because many countries lack sufficient cybersecurity resources and defenses.

The report stressed that the growing dependence on a small number of cloud providers and digital platforms could amplify the impact of a single cyber breach across multiple sectors and countries.

“Defenses will inevitably be breached, so resilience must also be a priority,” the IMF said, calling for rapid recovery systems and stronger safeguards to limit the spread of cyber incidents.

Last month, IMF Managing Director Kristalina Georgieva also warned that the global financial system was not fully prepared for the cybersecurity threats emerging from rapid AI development.