BANK OF ENGLAND, FCA AND HM TREASURY ISSUE JOINT AI CYBER STATEMENT

The Bank of England, the Financial Conduct Authority (FCA), and HM Treasury have issued a joint statement addressing frontier artificial intelligence models and cyber resilience in the financial sector. The three bodies coordinated the statement to set out their shared position on the risks posed by advanced AI systems. The publication marks a formal acknowledgement by the UK's principal financial authorities of the cyber security challenges associated with frontier AI. The statement reflects collaboration between the central bank, the financial regulator, and the government's economic department.

Frontier AI models refer to the most advanced and capable artificial intelligence systems currently available or in development. The joint statement focuses on the intersection of these systems and the cyber resilience of financial institutions and infrastructure. Cyber resilience refers to the ability of organisations to withstand, respond to, and recover from cyber incidents. The Bank of England, FCA, and HM Treasury each hold distinct but complementary responsibilities across financial stability, consumer protection, and economic policy.

The involvement of all three authorities signals a coordinated approach to AI-related cyber risk at the highest levels of UK financial governance. HM Treasury holds responsibility for financial services policy, while the Bank of England and FCA oversee stability and conduct respectively. The joint statement establishes a shared framework of concern across regulatory and governmental bodies. Financial institutions supervised by these authorities are subject to the oversight and guidance each body provides within its statutory remit.