RBI steps up scrutiny of Indian banks over rising AI-linked cyber fraud
POLICYredteam/daily · 1 source
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What happened
India's central bank and cyber agencies have warned that criminals are using artificial intelligence in more attacks on banks and fintech firms. Recent incidents included unauthorised access to customer data and fraudulent transactions, so regulators are checking how well these companies protect themselves.
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What to do
- Financial institutions should implement stronger security controls, particularly for their application programming interfaces.
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Who reported · 1 outlet
ETCISO (The Economic Times)