According to Decrypt, the Bank for International Settlements said in a new report that advanced AI is cutting the amount of time banks have to fix software vulnerabilities before attackers exploit them. The report warned that periodic security reviews and scheduled patch cycles are becoming less effective against the speed of the threat. It said the gap between the discovery of a vulnerability and its exploitation has fallen from weeks to minutes. The report focused on how banks respond, arguing that financial institutions need to accelerate software remediation and speed up related authorization decisions if they want to keep up with the shorter timeline.
According to Decrypt, a new report from the Bank for International Settlements says advanced AI is reducing the time banks have to patch software flaws before attackers can exploit them.
The report warned that periodic security assessments and scheduled patch updates are becoming increasingly inadequate for this challenge. It said the window between the discovery of a vulnerability and its exploitation has narrowed from weeks to minutes.
The report focused on banks’ response capacity and argued that financial institutions must move faster on software remediation while also speeding up related authorization decisions.
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