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Recent Editions
Risk Channel
North America
President Donald Trump has said that he thinks the ceasefire and interim agreement to end the war with Iran are now "over." Trump said he would allow negotiators to keep talking but that "it’s just a waste of time dealing with them." He said at a Nato summit in Turkey: "I don't want to deal with them anymore, they're scum," adding: "They're sick people, they're led by sick people . . . As far as I'm concerned, it's over" His comments were made after Iran launched attacks against American bases in the Gulf, retaliating for a new wave of strikes by the U.S., which said Tehran hit three commercial ships in the Strait of Hormuz. The U.S. also revoked Iran's ability to sell oil on the global market.
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Risk Channel
UK/Europe
European Central Bank chief financial supervisor Claudia Buch has sent a letter to 110 lenders giving them until the end of October to come up with a “comprehensive action plan” on how they will tackle risks from cutting-edge artificial intelligence models. "Emerging AI models are capable of identifying software vulnerabilities and generating functioning exploits at unprecedented speed, compressing the timeline between vulnerability discovery and exploitation. These developments have potentially profound implications for the confidentiality, integrity and resilience of banks’ information and communication technology (ICT) systems," Buch wrote. In a separate warning, the European Systemic Risk Board, a European Union body that issues recommendations to other authorities, also said systemic cyber risks stemming from frontier AI models “should be treated as a source of systemic risk” by the finance industry.
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