US EditionFM Nirmala Sitharaman asks banks to bolster cyber defences, report threats amid rising AI risks
- Nirmala Sitharaman urged Indian banks to enhance cyber defenses to combat AI-driven cybersecurity threats following a high-level meeting with government and banking officials.
- Indian banks have largely avoided major cybersecurity incidents due to sustained digitisation, system upgrades, firewalls, and customer safety measures, but there is a need to improve defenses including hiring top cybersecurity professionals and establishing real-time threat intelligence sharing.
- A coordinated institutional mechanism led by the Indian Banks' Association will guide banks to assess investments, adopt technologies, identify vulnerabilities, and use AI to counter AI-based threats.
- Banks have been instructed to report suspicious activities immediately to CERT-In and other authorities to enable timely threat identification and response.
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14 Articles
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LatestlyFM Sitharaman says Indian banks must build new defences as AI threats grow, West Asia crisis watched closely
Speaking at a post-inaugural press conference after the launch of the new State Bank of India office in Maharashtra, Union Finance Minister Nirmala Sitharaman said Indian banks must adopt a more versatile and proactive approach to counter emerging artificial intelligence-driven cyber threats.
Finance Minister Nirmala Sitharaman held a high-level meeting with several banks and the Reserve Bank, in which Anthropic's new AI model was discussed and new security guidelines were given.
Finance Minister Nirmala Sitharaman raises alarm on bank security risk due to Anthropic Mythos AI
Finance Minister Nirmala Sitharaman held a high-level meeting with heads of banks on Thursday to discuss the potential risks with Anthropic’s Claude Mythos, an AI so powerful that it can potentially hack any system. Sitharaman has advised for the creation of mechanisms that can identify and act on any cyberattacks on the financial sector.
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