Finance Minister Nirmala Sitharaman recently raised serious concerns over potential cybersecurity risks to India’s banking system from an advanced artificial intelligence model developed by Anthropic. During a high-level meeting held on Thursday, she interacted with heads of major banks to assess the possible threats posed by the company’s AI system, known as Claude Mythos. The discussion focused on how such powerful technology could impact financial security and what steps are needed to stay prepared.

According to the Ministry of Finance, Sitharaman warned that the capabilities of Claude Mythos could create significant risks for financial institutions. In an official post on X, the ministry stated that the threat from Mythos was “unprecedented and requires a very high degree of vigilance, preparedness and better coordination across financial institutions and banks.” The meeting highlighted the urgency of strengthening cybersecurity systems and improving collaboration across the sector.

Claude Mythos is described as one of the most advanced AI models in the field of cybersecurity. Anthropic claims that the model is so powerful that it has not been released to the public. The company says Mythos has identified thousands of security flaws that were previously missed by human experts. These include vulnerabilities that are as old as 27 years in widely used operating systems and web browsers. Such findings show the model’s ability to detect deep and hidden weaknesses in digital systems.

Because of its capabilities, Anthropic has limited access to Claude Mythos. Only a select group of around 40 companies have been allowed to use it. This group includes major global firms like Amazon, Microsoft, and Google. The company has stated that releasing the model widely would be risky, as it could give powerful hacking tools to anyone with basic resources. This raises concerns that such technology, if misused, could expose unknown vulnerabilities and lead to serious cyberattacks.

There are also reports that an unauthorised group managed to gain access to Mythos. This has increased fears that the model could be used by malicious actors to exploit security gaps. The possibility that such a tool could be used outside controlled environments has made governments and financial institutions more alert.

India is not alone in monitoring this situation. Reports suggest that the United States government has also engaged with major Wall Street banks to discuss similar concerns. There are indications that the White House may consider using Mythos within its agencies to strengthen cybersecurity measures. This shows that while the model poses risks, it may also be used as a tool to improve digital defences if handled carefully.

In India, the finance ministry is working on a strategy to deal with this emerging threat. Sitharaman has asked banks to take pre-emptive steps to secure their IT infrastructure and protect customer data. The focus is on building stronger systems that can detect and respond to cyber threats quickly. Banks have been advised to upgrade their security frameworks and remain alert to new risks.

The ministry has also proposed the creation of a real-time threat intelligence sharing system. It stated, “It was advised that a robust mechanism for real-time threat intelligence sharing may be established among banks, @IndianCERT and other relevant agencies.” This system is expected to help institutions share information about potential threats and respond in a coordinated manner.

In addition, Sitharaman has directed the Indian Banks’ Association to develop a coordinated institutional mechanism. This framework will enable faster and more effective responses to any cyber incidents. Banks have also been encouraged to collaborate closely with cybersecurity experts and agencies to strengthen their defences.

Reports from The Hindu indicate that both the finance ministry and the Reserve Bank of India are currently studying the level of risk that Mythos may pose to India’s financial sector. This ongoing assessment will help determine the scale of the threat and guide future actions.

Overall, the government’s response highlights the growing importance of cybersecurity in the age of advanced artificial intelligence. While tools like Claude Mythos can improve security, they also bring new challenges that require careful handling, strong coordination, and constant vigilance.