Australian regulator warns of urgent risk of frontier AI models for banks
( June 25, 2026, 04:37 GMT | Official Statement) -- MLex Summary: The Australian Prudential Regulation Authority has warned that frontier AI models pose an urgent and growing risk to the financial sector while urging information sharing between regulated entities. Therese McCarthy Hockey, a board member at the regulator, said Australia was entering a "dangerous period" in the AI revolution, warning that increasingly capable models could dramatically accelerate cyberattacks but could also be used to identify vulnerabilities and strengthen cyber defenses. She called on major banks to share advanced cybersecurity capabilities with smaller institutions and urged firms to bolster operational resilience as AI reshapes the cyber threat landscape.Speech follows. ...
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