The Financial Services Commission (FSC) is launching a private expert advisory group to address security threats posed by advanced artificial intelligence (AI). This initiative aims to ensure the security measures needed during the establishment of AI-based security systems in the financial sector and the relaxation of network separation regulations.
On June 1, the FSC held the inaugural meeting of the 'Private Technical Advisory Group,' attended by officials from the Financial Supervisory Service and the Financial Security Institute.
This advisory group is a follow-up to the 'Measures to Address Security Threats in the Financial Sector Related to Advanced AI' announced on May 26. As cyberattack methods in the financial sector become more sophisticated with advancements in AI technology, the FSC seeks to enhance the effectiveness of policy responses through expert advice.
The group consists of seven members, including four academics with expertise in AI, security, and regulation, and three legal professionals. It will operate until December of this year, with the possibility of extending its term if necessary.
The advisory group will assess the anticipated risks of recent high-performance AI security threats, including those posed by the AI model Mitos, and review institutional measures for building security systems in the financial sector. Specifically, it plans to provide guidance on the use of AI for security purposes related to the FSC's ongoing efforts to relax network separation regulations, management standards for AI testing processes, and alternative security technologies.
Under the principle of 'Defending Against AI Attacks with AI,' the FSC is working to revise related regulations to allow financial institutions to utilize AI for security purposes. Accordingly, the advisory group will also evaluate detailed plans for emergency relaxation measures regarding network separation and the preparedness of financial institutions.
Yoo Young-jun, Director of Digital Finance Policy at the FSC, stated, "To effectively respond to high-performance AI security threats, we urgently need advice from individuals with field experience and expertise in related areas. Based on the experts' recommendations, we will carefully develop policies to establish AI-based security systems in the financial sector and accelerate the adoption of AI technologies."
* This article has been translated by AI.
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