UK FCA warns banks to overhaul encryption as AI threats grow
- —FCA is assessing encryption resilience at 50 large financial institutions
- —Guidance on AI and quantum risks due next month for 35,000 firms
- —Concerns grew after OpenAI published work on solving hard math problems
- —Regulator says firms should start preparing now rather than wait
Why it matters: Advances in AI-driven mathematics could weaken the encryption protecting bank accounts and databases, pushing the financial sector toward post-quantum cryptography.
Source: Digital Today