UK Regulators Urge Firms to Mitigate Cyber Risks From Frontier AI Models

British companies should plan for and reduce risks from frontier artificial intelligence models, the U.K. finance ministry, Bank of England and Financial Conduct Authority said in a joint statement on May 15, 2026. The agencies said current frontier AI models’ cyber capabilities already exceed those of skilled practitioners, operating at higher speed, greater scale and lower cost. If used maliciously, the tools could increase threats to firms’ safety and soundness, customers, market integrity and financial stability. Bank of England Gov. Andrew Bailey warned in April 2026 of major cybersecurity risks tied to Anthropic’s Mythos product. Cybersecurity experts have also raised concerns that Mythos could enable more complex cyberattacks, posing challenges for banks and existing technology defenses.