MUMBAI, May 27: Cybersecurity concerns are growing within India’s financial sector as digital banking usage and online payment volumes continue to expand rapidly across urban and rural regions.
Banks and fintech companies are increasing investment in AI-driven fraud detection systems and customer authentication technologies to combat phishing attacks and digital scams.
Cybersecurity specialists warned that organised cybercriminal groups are increasingly targeting mobile banking users through sophisticated social engineering tactics.
Financial regulators are expected to introduce stricter digital security guidelines for financial institutions during the coming months.