MHA’s I4C warns banks, fintech firms of AI-powered cyberattacks and machine-speed fraud

NEW DELHI: The Indian Cyber Crime Coordination Centre (I4C), under the Union Ministry of Home Affairs (MHA), has sounded an alert over the growing threat of artificial intelligence (AI)-powered cyberattacks targeting banks, non-banking financial companies (NBFCs) and fintech firms. It has warned that hackers are exploiting automated systems to execute fraudulent transactions worth crores of rupees at machine speed.