Banks Bolster Defenses as AI Drives 76% of Cyberattacks

Generative AI has lowered the barriers to cybercrime, allowing attackers to scan for vulnerabilities, craft phishing content and modify malware more quickly. IBM X-Force said the finance and insurance sector has become a major target. Banks hold vast amounts of money and personal data, meaning a breach could disrupt transactions, undermine customer trust and threaten financial stability.

Recent reports said AI now drives 76% of cyberattacks and has sharply reduced the time attackers need to identify system weaknesses. Major banks including JPMorgan Chase and Santander are strengthening monitoring, identity verification and system defenses. The available reports did not disclose the date of the incidents, cybersecurity investment figures or the scale of damage suffered by individual banks.