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AI fuels faster, smarter cyberattacks on finance
25 Apr
Summary
- AI amplifies cyberattack scale and sophistication.
- Faster, adaptive, and scalable attacks pose risks.
- Defence must evolve faster than evolving attacks.
Union Finance Minister Nirmala Sitharaman has issued a stern warning to the Securities and Exchange Board of India (SEBI) regarding the escalating threat of AI-driven cyberattacks on the nation's financial infrastructure. She stressed the critical need for heightened vigilance, as a single successful attack could severely disrupt markets and erode public trust.
Sitharaman highlighted that artificial intelligence is significantly amplifying the scale and sophistication of cyber risks. AI-powered tools enable faster, more adaptive, and scalable attacks, some even operating autonomously. These threats encompass automated vulnerability discovery and advanced intrusion techniques designed to evade detection.
The Finance Minister underscored the urgent imperative for defense mechanisms to outpace the rapid evolution of attack vectors. She acknowledged SEBI's existing cybersecurity framework as a robust foundation but stressed the need for continuous advancement in protective measures.
Additionally, Sitharaman voiced concerns about the proliferation of fraudulent online investment content, including deepfake videos. She called for enhanced investor awareness campaigns and rapid-response systems to combat misleading information effectively.
