EBA, EIOPA and ESMA call for enhanced governance and consistent supervision to mitigate ICT risks from frontier AI models in the EU financial sector
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The EBA, EIOPA and ESMA call for a cross-sectoral, risk-based and consistent supervisory approach to ICT risks from frontier AI models, which can find and exploit vulnerabilities very quickly. They urge firms to strengthen governance and risk management and update on DORA oversight of critical ICT third-party providers.
Key points
- Emphasis on prevention, detection and management of AI-related cyber risks
- Builds on the ESRB warning of June 2026 and the Commission's action plan on cybersecurity and AI
- Unresolved cybersecurity weaknesses may become material
- It should serve as a basis for supervisory dialogue
Who is affected
Banks, insurers, asset managers, critical ICT providers and national supervisors
Plain-language version
Frontier AI models are the most advanced artificial intelligence systems, able to find and exploit security flaws very quickly. The EBA, EIOPA and ESMA, the EU authorities that watch over banks, insurers and markets, are urging financial firms to strengthen their cyber defences and supervisors to act in a coordinated way.
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Summary produced with artificial intelligence from the official publication. It may contain errors: always check the original document.
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