FM Sitharaman urges banks to strengthen cybersecurity against AI threats amid Claude Mythos concerns

Finance Minister Nirmala Sitharaman on Thursday urged banks to strengthen cybersecurity systems and adopt a more proactive approach to tackle emerging threats linked to advanced artificial intelligence models, particularly amid concerns over Anthropic's "Claude Mythos".

Chairing a high-level meeting with bank chiefs alongside IT minister Ashwini Vaishnaw, Sitharaman directed lenders to take "all necessary pre-emptive measures" to secure IT systems, protect customer data and safeguard financial resources.

The finance ministry stressed the need for stronger coordination across institutions. "It was advised that a robust mechanism for real-time threat intelligence sharing may be established among banks, @IndianCERT and other relevant agencies," the ministry said in a post on X.

Banks have also been asked to immediately report suspicious activity to CERT-In and maintain close coordination with relevant authorities.

Sitharaman warned that AI-driven risks differ from traditional cyber threats and require more advanced responses. Speaking after the meeting, she said, "What we have… proved ourselves to be that we are protective, might not be enough. We need something far more versatile," as quoted by ANI.

She noted that while Indian banks have maintained a strong cybersecurity record due to continuous upgrades and digitisation, the evolving nature of AI threats demands fresh strategies and tools.

The minister asked the Indian Banks' Association to develop a coordinated institutional mechanism, with the SBI chairman set to lead efforts. Banks will collaborate to identify vulnerabilities, assess investments and explore how AI itself can be used to counter such risks.

She also urged lenders to onboard top cybersecurity professionals and specialised agencies to strengthen monitoring and defence systems.

The meeting assumes significance amid global attention on Anthropic's AI model "Claude Mythos", which reportedly has the capability to identify and exploit software vulnerabilities at scale. The model has demonstrated the ability to uncover thousands of bugs, including decades-old flaws in major systems.

Anthropic has restricted public release of the model, citing "unprecedented cybersecurity risks" and potential misuse.

A senior official said Indian systems remain secure and there is no need for undue concern, though the government and RBI are closely studying potential risks, reported PTI.

Sitharaman emphasised that vigilance and preparedness will be key, with banks expected to enhance coordination and readiness to deal with what she described as an "unprecedented" technological challenge.