- Bank of England governor Andrew Bailey and IMF managing director Kristalina Georgieva warned of growing risks from cyber attacks and AI fraud.
- Georgieva said that unless fraud is addressed quickly, many people may move savings out of the banking system and keep cash at home.
- Georgieva said AI technology is arming both attackers and defenders.
- The coverage also says the global financial system is failing developing countries, citing Ed Miliband.
Quotes
“What I worry, today, is that unless we figure out how to get ahead of this curve, given the speed, the scale and the cost of fraud going up, we may end up with lots of people with shoeboxes under their beds.”