Masahiko Kato, speaking for the Japan Bankers Association, warned Friday that banks could be forced to shut down ATMs and online banking services if AI-powered cyberattacks continue to escalate. The threat, he said, comes from frontier AI models that can quickly spot weaknesses in banking systems.
The statement puts a stark new spotlight on the risks posed by advanced artificial intelligence to critical financial infrastructure. While banks have long faced hacking attempts, the ability of these newer models to autonomously find and exploit vulnerabilities has raised alarms across the industry.
Why frontier AI models are a different threat
Traditional cyberattacks often rely on known exploits or human error. Frontier AI models, by contrast, can scan entire banking networks and identify novel vulnerabilities in minutes — work that once took teams of specialists days or weeks. Kato noted that the speed and adaptability of these models make them particularly dangerous.
The Japan Bankers Association did not provide specific examples of attacks that triggered the warning, but the organization made clear that the risk is no longer theoretical. Banks are now being urged to strengthen their defenses or prepare for possible service interruptions.
What banks might do
According to Kato, the most extreme measure under discussion is a temporary suspension of ATM withdrawals and online banking logins. That step, he suggested, would only be taken if attack volumes overwhelm existing safeguards and threaten customer data or funds.”
No timeline was given for when such a decision might be made. The association said it would continue to monitor the situation and coordinate with financial institutions and cybersecurity agencies.
Market bets on Anthropic
Separately, the prediction market Polymarket is showing a 96% probability for Anthropic — the AI company behind the Claude model — for an unspecified outcome. The nature of that prediction was not detailed, but the high odds reflect growing market focus on the role of AI firms in both defense and offense around cybersecurity.
Whether the Polymarket bet is directly tied to the banking warning or to a different development is unclear. But the two data points together underscore how central AI has become to conversations about financial stability.
The Japan Bankers Association has not set a specific threshold for when service suspensions would be triggered, leaving the industry watching for further developments.
