Australia regulator calls for urgent cybersecurity action to counter Mythos

Australia's corporate regulator, ASIC, has called for urgent action from the financial sector to address cybersecurity risks posed by frontier AI systems like Mythos. ASIC commissioner Simone Constant emphasized the need for stronger cybersecurity practices, warning that AI models can expose vulnerabilities rapidly. The call to action follows concerns that the financial services industry's information security is lagging behind AI advancements. A recent survey revealed that financial institutions are adopting AI at more than twice the rate of regulators, highlighting a significant gap in AI adoption and data on emerging risks.