s Unprecedented Cyber Attack Risks for Banks & Insurers Content: The Bank of England, FCA and HM Treasury released a joint regulatory statement on May 15, 2026, ordering all financial institutions to build AI cyber resilience frameworks. Advanced generative AI enables bad actors to craft hyper-realistic phishing scripts, automated fraud bots and malware code at scale. Regulators demand mandatory quarterly AI red-teaming tests and full documentation of all LLM deployment within transaction monitoring and KYC systems by Q4 2026.