AI-powered cyberattacks siphon ₹300 crore from small NBFCs in two months (opens in a new tab)
Why readRoughly Rs 300 crore taken from small Indian NBFCs in two months via AI-assisted attacks, which every peer lender's board will raise this week.
The Economic Times reports that AI-powered attacks drained about Rs 300 crore from small non-banking financial companies in India over a two-month period. The target set is specific, smaller NBFCs rather than the large banks, which tells sector peers where the attacker economics currently favour them. No technique detail or indicators are given, but for anyone running security at a regulated lender this is the fact that forces a conversation with the board and with RBI reporting obligations.
Also covered byElets BFSI (opens in a new tab),MediaNama (opens in a new tab).