AI-Powered Cyberattacks Siphon ₹300 Crore From Small NBFCs As RBI Flags Risks To Banks
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AI-Powered Cyberattacks Siphon ₹300 Crore From Small NBFCs As RBI Flags Risks To Banks
AI-powered cyberattacks have reportedly siphoned ₹300 crore from smaller non-banking financial companies (NBFCs) in just two months, exposing vulnerabilities in India's digital lending infrastructure. As investigators probe the attacks, RBI Governor Sanjay Malhotra has warned of emerging AI-driven cyber risks, with banks and regulators working to plug security gaps.
Massive cyber fraud targeting small non-bank financial institutions in the country. Weak cyber security
Recent cyberattacks have caused losses of approximately ₹300 crore to Indian NBFCs, and have resulted in approximately 150 cases of fraud. Cybercriminals are exploiting operational vulnerabilities to launch ongoing attacks.
A massive cyber attack targeting non-banking financial institutions (NBFCs) in the country has resulted in a loss of Rs 300 crore in the last two months, according to estimates. Fraudsters are exploiting the security vulnerabilities of small credit institutions to steal money. Around 150 cases have been registered in different parts of the country in this regard.
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