BofA’s Moynihan joins Wall Street CEOs warning of Mythos AI risks

Bank of America ↘ 0.36% CEO Brian Moynihan has added his voice to a growing chorus of Wall Street leaders warning about the cybersecurity threats posed by Anthropic's Mythos AI model, telling audiences that banks are "all working hard on it," according to Bloomberg.reuters+1

Moynihan's comments, reported on Wednesday, come just a day after JPMorgan Chase ↘ 0.73% CEO Jamie Dimon described the risks of broad access to Mythos as a "real issue," comparing it to "giving ballistic missiles to individuals." Dimon made his remarks at Senator Dave McCormick's Pennsylvania Defense and Innovation Summit.bloomberg+1

A Powerful Model With Dangerous Capabilities

Anthropic unveiled Claude Mythos Preview in early April, a frontier AI model that demonstrated what researchers called "striking" proficiency in identifying and exploiting cybersecurity vulnerabilities across major operating systems and web browsers. The company chose not to release Mythos to the public, instead limiting access to roughly 40 organizations through an initiative called Project Glasswing, which includes Amazon Web Services, CrowdStrike, Microsoft ↗ 0.52%, and Nvidia ↘ 1.47%.bbc+3

Anthropic said the model had already identified high-severity vulnerabilities, some dating back more than two decades, and warned that similar capabilities would inevitably spread to other AI systems.thehill+1

Wall Street's Escalating Response

The financial industry has been on alert since April, when Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell held an emergency briefing for bank CEOs about Mythos's potential to supercharge cyberattacks against banking infrastructure. The European Central Bank also moved to quiz banks about their preparedness.nytimes+2

Banks including JPMorgan and Goldman Sachs The Goldman Sachs Group, Inc. ↘ 1.38% have been testing Mythos under Project Glasswing to assess their own defenses. Bank of America has separately been investing heavily in AI capabilities, helping raise nearly $500 billion for AI-related companies since 2025, according to Reuters.neworleanscitybusiness+1

The Broader Tension

The warnings from Moynihan and Dimon underscore a central tension facing the banking industry: the same AI tools fueling a dealmaking boom and operational efficiencies also present threats to the legacy systems underpinning global finance. Palo Alto Networks ↗ 5.00% chief technology officer Lee Klarich warned in May that businesses face a narrow window to strengthen their defenses before AI-driven cyberattacks "become the new norm."cnbc

The UK's AI Safety Institute, which independently tested Mythos, concluded that the model can exploit weakly defended systems but cautioned that its capabilities may not dramatically exceed those of its predecessor.bbc+1