TGCSB warns NBFCs, Fintech firms agaisnt AI-assisted Cyber attacks on payment systems

Hyderabad, Nov 12 (UNI) The Telangana Cyber Security Bureau (TGCSB) on Thursday alerted Non-Banking Financial Companies (NBFCs), FinTech platforms and banks to the growing threat of AI-assisted cyberattacks targeting payment and loan disbursement systems and urged them to strengthen security measures to prevent fraudulent transactions at the source. At a meeting with representatives of NBFCs, FinTech platforms and banks, along with officials of the Department of Telecommunications (DoT) and the Reserve Bank of India (RBI), here, TGCSB Director Shikha Goel stressed the need for real-time fraud detection, securing payment APIs and immediately disrupting suspicious transactions. Rushi Mehta of the Indian…