tech
AI cyber security risk ‘top of list’ for banking threats, says UK regulator
Sam Woods, the outgoing chief of the PRA, says he is ‘very concerned’ about vulnerabilities in lenders’ IT systems
TL;DR
- Outgoing PRA chief Sam Woods is very concerned about lender IT system vulnerabilities.
- AI is identified as a top cyber security risk for the banking sector.
- Concerns are focused on potential weaknesses in financial institutions' IT systems.