Latest cybersecurity reporting from selected sources.

Forrester's Allie Mellen on Preparing for a Mythos-Level Surge in VulnerabilitiesAI is simultaneously the biggest threat to financial system security and the most powerful tool for defending it. The IMF is sounding the alarm on systemic risk. Forrester principal analyst Allie Mellen breaks down what that means for CISOs and security teams at financial institutions.

German Financial Regulator Warns Sector to Step Up DefensesOpenAI is stepping up to do what arch-rival Anthropic still won't. The AI firm will give European authorities and companies access to its new vulnerability-finding AI model, so they can beef up their cybersecurity.

Mythos Found ‘Tens of Thousands’ of Unpatched Flaws With Months to Fix ThemAnthropic CEO Dario Amodei warned that Claude Mythos has found tens of thousands of unpatched software vulnerabilities, with a six-to-12 month window before Chinese AI models catch up. The disclosure came alongside a major financial services push including an investor-backed firm and 10 new AI agents.

Officials Warned New Models Could Accelerate Cyber Risks Faster Than RulesGlobal finance officials meeting in Washington warned that advanced artificial intelligence models could expose structural weaknesses across banking and payment systems, speeding vulnerability discovery and cyber exploitation faster than regulators can build guardrails.

Also: Train Hack Risks Outed by CISA Alert; AI Comprehension Issues Won't Go AwayIn this week's update, four ISMG editors discussed the potential global implications of the Seychelles Commercial Bank data breach; the real-world threat of train hacks following an alert about a critical railway vulnerability; and growing concerns around AI's "comprehension problem."

Also: CISA Warns of Unpatched Train Brake VulnerabilityThis week: Louis Vuitton and Co-op confirm breaches, unpatched train brake flaw, Barclays fined £42M pounds for financial crime failures, secret U.K. program relocated thousands of Afghans, ex-soldier pleads guilty to hacking, Ukrainian hackers claim hit on Russian drone supplier.

Over 10K Exploit Attempts Recorded in a Week From a Single Malicious IPHackers are exploiting a vulnerability in ChatGPT's infrastructure to redirect users to malicious websites, with security researchers recording more than 10,000 exploit attempts in a week from a single malicious IP address. The financial sector has borne the brunt of the attacks.

Trump's Procurement Tracking Directive Could Expose Vast Government Data to ThreatsThe White House is mandating federal agencies to track and justify every procurement, a move aimed at transparency but one that experts warn could expose troves of sensitive financial data to hacking, nation-state cyber threats and potential supply chain vulnerabilities across government systems.

ACAMS' Shilpa Arora on Global Financial Vulnerabilities and Regulatory ChallengesGeopolitical tensions have heightened cross-border fraud, with criminals exploiting technological advances and regulatory gaps between countries. Shilpa Arora, head of anti-financial crime products at ACAMS, discusses ways banks can tackle cross-border fraud schemes.

CISA Won't Ask You to Wire Money or Keep Discussions SecretIf you've received an urgent phone call from the U.S. Cybersecurity and Infrastructure Security Agency about a security vulnerability, you should know: The call wasn't really from CISA. Americans reported more than $1.1 billion in financial losses due to impersonation scams in 2023.

Modules Widely Deployed in Manufacturing, Telecommunications and Healthcare DevicesMultiple types of Telit Cinterion cellular modules for IoT and machine-to-machine devices, which are widely used across industrial, financial services, telecommunications and healthcare environments, are vulnerable to being remotely compromised via malicious SMS messages, security researchers warn.