The Group of Seven (G7) has agreed to run simulated AI cyberattacks. It will test how governments, central banks and financial regulators respond to cyber threats. The exercises will focus on protecting banks and key financial systems from attacks involving advanced artificial intelligence (AI).
The move follows a warning from the International Monetary Fund (IMF). The IMF said an AI-based cyberattack on a critical financial service could weaken public trust in financial institutions.
Japanese Finance Minister Satsuki Katayama confirmed the plan after a meeting of G7 finance ministers and central bank governors. The meeting took place alongside the IMF’s annual meetings in Bangkok, Thailand. Reuters reported the agreement on October 16, 2026.
G7 to Test Responses to AI Cyberattacks
The planned exercises will simulate cyberattacks involving advanced artificial intelligence (AI). They will help financial authorities test their emergency response plans and assess their readiness for such threats.
Officials will review the results to identify gaps in existing security measures. This might also lead to updates to response guidelines for handling AI-related cyberattacks. G7 financial authorities will develop the exercises. Private financial institutions may also take part, depending on the scenarios.
The G7 consists of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. The group works together on economic and financial issues affecting its members and the global economy.
Why AI Cyberattacks Are a Growing Threat to Banks
Banks and other financial institutions face new cybersecurity risks as AI systems become more advanced. Attackers could use AI to find software weaknesses, automate cyberattacks and carry out attacks faster.
These threats could affect banks, payment services and other critical financial systems. An attack on one institution could also spread through connected networks and disrupt services in multiple countries.
In a September 2025 statement on AI and cybersecurity, the G7 Cyber Expert Group warned about the risks of AI misuse. It said AI could increase the frequency and impact of cyberattacks. It also highlighted risks arising from financial institutions’ reliance on shared technology providers.
AI can also help banks detect security weaknesses, identify suspicious activity and respond to cyber incidents. However, financial authorities must prepare for attackers to use the same technology to target banks and critical financial systems.
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IMF Warns AI Cyberattacks Could Threaten Financial Stability
The International Monetary Fund (IMF) has warned that AI-related cyberattacks could pose risks to financial stability. An attack on a critical financial service could disrupt operations and weaken public trust in banks and other financial institutions.
The threat extends beyond individual banks. Financial institutions depend on connected networks, technology providers and payment systems. A major cyberattack could affect multiple institutions and disrupt financial markets at the same time.
The G7’s planned cyberattack simulations will test how authorities coordinate their response to such incidents. The exercises could help identify gaps in communication, crisis management and recovery plans before a real attack takes place.
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G7 Strengthens Cybersecurity Measures Against AI Threats
The G7 is taking further steps to prepare banks and financial systems for new cyber threats. Regulators and central banks are assessing how advanced artificial intelligence (AI) could affect existing security measures and the ability of financial institutions to recover from major cyberattacks.
In July 2026, the G7 Cyber Expert Group announced that it had completed a cross-border exercise simulating a large-scale cyberattack across G7 countries. The exercise involved finance ministries, central banks, banking supervisors and financial market authorities. It tested how these agencies respond to cyber incidents, share information and communicate during a crisis.
The group also adopted a long-term plan to hold these exercises more regularly and follow a consistent approach. The upcoming AI cyberattack simulations will build on these efforts. They will test how financial authorities respond to cyber threats involving advanced AI systems.
How G7 Plans to Test Banks Against AI Cyberattacks
The planned G7 exercises could help governments and financial institutions find weaknesses in their cybersecurity plans and improve coordination during a crisis.
The tests will also help authorities assess whether current security measures can handle attacks involving advanced AI systems. However, their effectiveness will depend on the attack scenarios used. It will also depend on how officials use the findings to improve security.
The G7 has not yet shared a detailed schedule or confirmed which cyberattack scenarios the exercises will cover.
As AI technology advances, testing how financial systems respond to cyberattacks will become increasingly important. These tests can help protect banks, payment networks and the global economy.
