ECB urges euro zone banks to prepare for AI-assisted cyberattacks

European Central Bank supervisor Frank Elderson on May 13, 2026, urged euro area banks to move quickly to prepare for potential cyberattacks aided by Anthropic’s Mythos AI model or similar tools, warning that limited access to the model is not a reason to delay defenses. Elderson, vice chair of the ECB’s bank supervision arm, said banks and their contractors should fix even minor vulnerabilities more rapidly than standard software update cycles allow. Reuters reported this week that large U.S. banks with early access to Mythos are moving to address data-system weaknesses flagged by the tool. ECB President Christine Lagarde said in May 2026 that the central bank is studying defenses against Mythos-guided attacks while lacking access to the model. Reuters reported in April 2026 that ECB supervisors planned to question banks about preparedness. Japan’s three largest banks may be cleared to begin working with Mythos around May 27, 2026, potentially widening Europe’s access gap.