India Identifies AI-Powered Hacking Group Targeting Financial Institutions

India’s cybersecurity agency CERT-In has identified a hacking group named “Crafty Falcon” behind a series of AI-driven cyberattacks targeting financial institutions. The group has reportedly breached non-bank lenders, fintech companies and cryptocurrency exchanges. Authorities warned that the attacks remain active and involve artificial intelligence tools to automate cyber intrusions.

CERT-In identified four tools used in the attacks: ARTEX, PentAGI, Cairn and CyberStrikeAI. Security researchers have linked at least two of these tools to China. The hackers reportedly exploit vulnerabilities in financial systems and use victims’ own payment platforms to transfer money. They also time attacks during weekends and holidays to delay detection.

The warning follows several cybersecurity incidents involving Indian financial institutions. Two Mumbai-based non-bank lenders reportedly lost around $2 million through more than 700 unauthorised transfers involving ICICI Bank accounts. Meanwhile, State Bank of India disclosed a leak of 3,897 customer records, while Spandana Sphoorty Financial and AU Small Finance Bank reported separate security concerns.

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