Cybersecurity Agency I4C Warns Banks & Fintechs Against AI-Led Cyberattacks
The Indian Cyber Crime Coordination Centre (I4C) issued an advisory flagging a growing threat of AI-enabled cyberattacks against financial institutions. Attackers exploit unpatched software and misconfigured servers to gain access, then deploy agentic AI systems to execute unauthorized transactions through automated fund disbursement systems and payment APIs. Once funds are stolen, perpetrators route money through mule accounts and use IMPS/NEFT to withdraw proceeds before erasing evidence. The agency recommends implementing CERT-In's critical security advisories.
Key points
- Malicious AI agents are automating financial fraud against Indian banks and fintechs
- Attackers exploit unpatched software and misconfigured servers as entry points
- Stolen funds are routed through multiple banks and withdrawn via IMPS/NEFT before traces are deleted
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