(Image source from: economictimes.indiatimes.com)

On Thursday, Finance Minister Nirmala Sitharaman held an important meeting with the leaders of different banks to discuss the possible cybersecurity risks linked to Anthropic's Claude Mythos model. Claude Mythos is said to be the top AI model for cybersecurity. On X, the official Ministry of Finance account mentioned that Nirmala Sitharaman cautioned stakeholders about the possible effects of Claude Mythos. The message highlighted that the danger posed by Mythos was "unprecedented and demands a high level of awareness, readiness, and improved teamwork among financial institutions and banks. " IT minister Ashwini Vaishnaw also attended the meeting. Claude Mythos is the most powerful AI model created by Anthropic. The AI startup claims that this model is so effective at cybersecurity that it cannot be shared with the public. The company states that Mythos has found thousands of security weaknesses that people overlooked, which includes vulnerabilities in major operating systems and web browsers that have existed for 27 years.

Anthropic has remarked that releasing it widely would be like giving advanced hacking tools to anyone who owns a laptop. This suggests that, at least theoretically, Mythos could take advantage of security weaknesses that were previously unknown. Consequently, Anthropic has limited access to Claude Mythos to only a small group of about 40 companies, which includes Amazon, Microsoft, and Google. However, reports indicate that an unauthorized group of users managed to gain access to Mythos, potentially enabling them to exploit cybersecurity weaknesses. The Indian government isn't the only one monitoring Mythos. Reports suggest that the US government has been in discussions with various Wall Street banks to implement similar precautions. The White House is likely considering using Mythos across its various departments to enhance cybersecurity. In theory, Mythos is thought to be so strong that a malicious individual could use it to hack into any company or banking system. To address this possible risk, the finance ministry is looking to develop a plan that will detect and respond to such threats.

During the meeting, Nirmala Sitharaman urged banks to take necessary steps to protect their IT systems and secure customer information. The finance ministry added, "It was suggested that a solid process for sharing real-time threat information should be set up among banks, @IndianCERT, and other relevant organizations. " This process will help identify threats and share information throughout the banking sector in India. Nirmala Sitharaman has encouraged the Indian Banks’ Association (IBA) to create a coordinated response system. This system will be tasked with quickly responding to any possible threats. Sitharaman instructed banks to collaborate with cybersecurity experts and agencies to strengthen their defenses against potential cyber attacks. According to a report from The Hindu, the finance ministry and the Reserve Bank of India are currently examining the level of risks that the Indian financial sector may face from Mythos.