The Rise of AI-Powered Cyberattacks: Is BFSI Ready?
Cyber Defense Magazine examines AI‑enabled threats against India’s BFSI sector, citing surges in phishing (+175%), deepfake fraud (+550% since 2019), and high breach costs (US$6.08M avg for finance). Regulators such as the RBI push AI‑aware defense strategies and adoption of telecom‑integrated Financial Fraud Risk Indicators for real‑time detection.
CORTEX Protocol Intelligence Assessment
Business Impact: Fraud and identity abuse drive material losses; regulatory expectations rising. Technical Context: AI accelerates phishing realism and session hijacking; legacy systems impede rapid defense integration.
Strategic Intelligence Guidance
- Adopt AI‑assisted fraud detection integrated with telecom signals (FRI).
- Deploy phishing‑resistant MFA and session protection for banking apps.
- Modernize IAM and cloud controls to reduce misconfiguration risk.
- Continuously red‑team social engineering and fraud workflows.
Vendors
Threats
Targets
Impact
Financial:INR 700B projected 2024 deepfake losses
Intelligence Source: The Rise of AI-Powered Cyberattacks: Is BFSI Ready? - Cyber Defense Magazine | Oct 21, 2025