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‘Crypto v community’: 4,000 local US lenders join forces to fight ‘stablecoins’ law
Up to 4,000 community banks fear looming legislation to regulate digital cash will deprive rural firms and farmers of $850bn-worth of loans On a quiet summer morning, above a small mid-western town, an American flag is waving in the breeze. The camera cuts to a father helping his son at the wheel of a tractor,…
Global finance watchdog warns over private credit industry fuelling AI boom
Financial Stability Board report reveals tech, healthcare and services sectors as the biggest borrowers The private credit industry’s role in fuelling the AI boom could backfire, with a sharp correction leading to “sizeable” losses, the Financial Stability Board has warned. A new report on private credit by the global watchdog, which monitors financial authorities including…
TikTok and Visa launch debit card to speed payouts to UK creators
Creator card is designed for people making money through TikTok Live, some of whom complain of payment delays TikTok and Visa have launched a debit card for content creators in the UK which they say will allow people to quickly access their earnings from the platform. The creator card is designed for the growing numbers…
What is Mythos AI and why could it be a threat to global cybersecurity?
Anthropic’s decision to restrict access to its powerful new model increases fears about the advanced technology Anthropic has ruled out releasing its latest AI model, Claude Mythos, to the public because of the threat it poses to global cybersecurity. However, the US tech startup behind the Claude chatbot confirmed on Wednesday it was investigating a…
Finance leaders warn over Mythos as UK banks prepare to use powerful Anthropic AI tool
Release of new Claude model, so far limited to US firms, will expand to British institutions in coming days British banks will be given access in the next week to a powerful AI tool that was deemed too dangerous to be released to the public, as a series of senior finance figures warned over its…
Goldman Sachs chief ‘hyper-aware’ of risks from Anthropic’s Mythos AI
US bank has the Claude model and is working closely with the tech firm to improve cyber protection Goldman Sachs’s chief executive, David Solomon, has said he is “hyper-aware” of the capabilities of Anthropic’s Mythos AI model and is working “closely” with the tech firm after it issued warnings about the cybersecurity risk it poses.…
US summons bank bosses over cyber risks from Anthropic’s latest AI model
Fed chair Jerome Powell reportedly attends meeting in Washington following release of Claude Mythos The US Treasury secretary, Scott Bessent, summoned major American bank chiefs to a meeting in Washington this week amid concerns over the cyber risks posed by Anthropic’s latest AI model, according to reports. Jerome Powell, chair of the Rederal Reserve, was…
Revolut warns it risks backlash over support for energy-intensive AI and crypto
Fintech company’s profits leap to £1.7bn as it gears up for US push after getting UK banking licence this month Business live – latest updates The UK banking app Revolut has said it could face a backlash over its support for energy-intensive sectors such as crypto and AI, as it posted a 57% increase in…
‘Convincing’ AI scams drove UK fraud cases to record 444,000 last year
Criminals using artificial intelligence tools to take over mobile, bank and online shopping accounts, says Cifas Criminals are increasingly exploiting AI technology to take over people’s mobile, banking and online shopping accounts, the UK’s leading anti-fraud body has warned. Last year, a record number of scams were reported to the national fraud database, fuelled by…