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U.S. Treasury Secretary Scott Bessent Warns AI Could Be Used to Hack Bank Accounts

Scott Bessent says the U.S. government and major banks are working urgently to protect the financial system from artificial intelligence-related cyber risks.

Summary

U.S. Treasury Secretary Scott Bessent warned that artificial intelligence could be used to hack bank accounts, highlighting a cyber risk to the financial system. According to the source, he said the U.S. government and top banks are now working urgently to keep the financial system safe. The statement points to growing concern that AI tools can strengthen cyberattack capabilities, raising pressure on public authorities and financial institutions to improve defenses.

Terms & Concepts
  • Artificial intelligence: Computer systems designed to perform tasks that typically require human intelligence, including pattern recognition, automation, and decision-making.
  • Cybersecurity: The practice of protecting computer systems, networks, and financial accounts from hacking, fraud, and other digital attacks.
  • Financial system: The network of banks, payment infrastructure, regulators, and markets that supports money movement, savings, lending, and broader economic activity.