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UK Banks Still Lack Access to Mythos AI Model

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Date Published
31 May 2026
Priority Score
4
Australian
Yes
Created
31 May 2026, 10:00 pm

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Description

Six weeks after it first drew concern.

Summary

Bank of England Governor Andrew Bailey has highlighted a critical delay in British banks accessing Anthropic's 'Mythos' model, which possesses advanced capabilities that could potentially compromise global cybersecurity frameworks. This bottleneck, attributed to political deliberations within the US administration, prevents financial institutions from stress-testing their systems against emerging frontier AI threats. The discourse underscores a significant tension between national security export controls and the need for global, interconnected defense against catastrophic cyber risks posed by high-capability AI models. Bailey's call for an international standard-setting approach reflects the urgent need for trans-border governance to mitigate systemic risks to the global financial infrastructure.

Body

British banks still have not been ⁠able to ⁠gain access to Anthropic's Mythos artificial intelligence model to check their systems against cyber threats, six weeks after it first drew concern, Bank of England governor Andrew ‌Bailey said. Bailey, speaking to Bloomberg ‌TV, ‌said Anthropic was willing to share ‌the models on a trial basis ⁠but there appeared to be a political hold-up. "It hasn't happened yet and I think this has been somewhat caught up in the process with the US administration," he ​said in an interview on the sidelines of a central banking conference in Reykjavik. "Quite why the ⁠process is a bit different from one company to another, I'm afraid I can't explain to you. "Obviously, from our point of view, given our concern about the risks involved in this, it's very important that there is access," he said. Anthropic has sparred with the US administration over guardrails for how the military could use its ​AI tools. Last month, Bailey said "Anthropic may ⁠have found a way to crack the ⁠whole cyber risk world open". Since then, some cyber security experts have told Reuters that ​fears of unfettered hacking with the model are overstated. US President Donald ‌Trump last ⁠week postponed signing a broader executive order on AI that was expected to create a voluntary framework for AI developers to engage with the ‌US government before the public release of advanced AI models. Bailey - who also heads the international standard-setting Financial Stability Board - said there needed to be a global approach to ​hacking risks. "Spillovers from this sort of cyber risk are so big that we can't just have a single sort of national approach," he said. "Anybody ‌who thought, 'Well, ⁠I've dealt with my ​banks, that's okay', I'm afraid that won't work, because they're all so heavily interconnected."