Cyberattacks on banks, including AU Small Finance Bank, worry insurers as claim risks rise

Mumbai: The spate of cyberattacks targeting financial institutions, including the one involving AU Small Finance Bank, is raising concerns about the growing vulnerability of banks and the potential scale of losses, with insurers reporting an increase in cyber incidents over the past three to four months.

AU Small Finance Bank said it’s investigating a potential data breach involving a third-party software-as-a-service platform hosted by Salesforce that holds information related to auto loan customers.