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The Economic Times

Economy / The Economic Times

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AI-powered cyberattacks siphon 300 crore from small NBFCs in two months

Recent cyberattacks have inflicted an estimated loss of 300 crore on India's non-banking financial companies, with around 150 fraud cases reported. Focus has shifted towards identifying Chinese hacking platforms and AI toolkit involvement in these incidents. Exploiting operational weaknesses, these cybercriminals persistently launch their attacks, leading to urgent calls for NBFCs to bolster their cybersecurity frameworks to fend off further threats and safeguard their operations.

29 Oct 2026 5:30 am