U.S. Department of the Treasury: Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector
The U.S. Department of the Treasury, in response to Executive Order 14110 on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence, has produced a report on the use of AI in the financial services sector.
The report, titled "Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector," discusses the current state of AI use in the financial services sector, including a review of cybersecurity and fraud risks, best-practice recommendations, and challenges and opportunities.
The report was written based on 42 in-depth interviews with industry representatives, including representatives from financial institutions, IT firms, data providers, and anti-fraud/AML companies.
The report also includes an annex from the Financial Services Sector Coordinating Council (FSSCC), entitled "Artificial Intelligence in the Financial Sector: Cybersecurity and Fraud Use Cases and Risks," which discusses the use of AI for cybersecurity and fraud protection in the financial services sector.
