featured News Trending

Banks race to access Anthropic’s Mythos amid cyber risk concerns

By 108 0

The launch of Anthropic’s advanced AI model Mythos has triggered a rush among global banks to secure access, while regulators intensify scrutiny over potential cybersecurity risks. Officials at the International Monetary Fund meetings recently flagged concerns that the model’s capabilities could challenge banks’ legacy systems and expose vulnerabilities.

Major financial institutions including JPMorgan Chase, Goldman Sachs, Morgan Stanley, and Citigroup have either confirmed or are reported to have access to Mythos, using it to test internal systems and cyber defenses. Meanwhile, Deutsche Bank CEO Christian Sewing said lenders are coordinating with regulators and trying to gain entry, though access remains tightly controlled.

Regulators across Europe, the U.S., and Asia are evaluating how prepared banks are to handle emerging threats, with some warning that Mythos is significantly more capable in cyber offense than previous AI models. Authorities are assessing risks through existing resilience frameworks, as industry leaders caution that such technologies could reshape the cybersecurity landscape and introduce more advanced threats in the near future.

Pic courtesy: google/ images are subject to copyright

featured News Trending

Deutsche Bank Offices Raided in Germany Over Money Laundering Probe

By 266 0

German authorities have raided Deutsche Bank’s offices in Frankfurt and Berlin as part of an investigation into suspected money laundering, prosecutors said. The Office of the Federal Prosecutor said it is probing “unknown individuals and employees” at Germany’s largest lender, alongside the Federal Criminal Police Office, over past business relationships with foreign companies believed to have been used for illicit financial activities.

Officials declined to provide details on which employees or companies are under investigation, saying no further information could be disclosed about the transactions, their scale, or the entities involved. Deutsche Bank confirmed that searches were conducted at its premises but did not comment further. German media reports suggested potential links to Russian billionaire Roman Abramovich, claims his lawyers strongly denied.

Abramovich’s legal team said he has no connection to the investigation and is neither a suspect nor under scrutiny, adding that the raids relate solely to Deutsche Bank’s alleged failure to meet reporting obligations under Germany’s anti-money laundering rules. The case recalls a 2018 investigation when Deutsche Bank’s Frankfurt headquarters and other offices were searched over suspected assistance in setting up offshore accounts to move funds linked to criminal activity.

Pic courtesy: google/ images are subject to copyright

Europe Breaking News
News

Merger talks of Commerzbank and Deutsche Bank fails

By 1249 0

Commerzbank and Deutsche Bank have abandoned the merger talks. They said that the deal could not be approved since it appeared to be too risky. The banks unanimously said that the deal would not have generated “sufficient benefits” to offset the costs of the deal.

Two biggest listed lenders of Germany had said there were too many problems to justify pursuing a complex deal that would have formed the Euro-zone’s second-largest lender with €1.8tn in assets and 140,000 employees.

The formal merger talks between the banks started last month only. The government of Germany had been supporting the tie-ups. Olaf Sholz, the Finance Minister wanted a national champion in the banking industry, says media reports.

15.5% of stake is still owned by the government in Commerzbank, acquired after the bank was bailed out following the financial crisis.

The shares of Deutsche Bank fell by 1.5% to €7.48 each. The Commerzbank shares dropped 2.5% to €7.60.

If united, these banks would have controlled one fifth of Germany’s High Street banking business with €1.8 trillion ($2tn; £1.6tn) of assets, such as loans and investments.

Image courtesy: bworldonline. com / images are subject to copyright