Hyderabad: Artificial Intelligence-powered cybercriminals can exploit vulnerabilities in banking systems to divert crores of rupees into mule bank accounts within seconds and erase digital evidence to evade detection, Hyderabad Police Commissioner VC Sajjanar, IPS, warned the public.Remain vigilant against emerging threatsWith international cybercrime syndicates increasingly deploying sophisticated AI tools to target financial networks, Sajjanar has urged banks, non-banking financial companies (NBFCs), quick-commerce platforms and mobility service providers to strengthen their cybersecurity infrastructure and remain vigilant against emerging threats.He stressed that organisations handling customers’ financial transactions and sensitive personal information must invest in robust security systems and skilled cybersecurity personnel to prevent potential attacks.AI agents helping hackers identify banking loopholesSajjanar cautioned that cybercriminals are increasingly using AI agents to identify security weaknesses in financial institutions’ networks.Outdated software, improperly configured internet-facing systems and vulnerabilities in customer grievance portals are among the loopholes being exploited by hackers.
Increasingly complex Cyber Security incidents are being frequently reported. Entities handling citizen finances and data—including Banks, Financial Institutions, Quick Commerce, and Mobility Platforms—are requested to strengthen their cybersecurity systems, processes, and manpower against evolving AI-assisted attacks and hacker syndicates. All third-party systems, services, and modules handling confidential data must be treated on par with core applications, with stringent quality norms implemented across the ecosystem. This is crucial for the safety of citizens’ finances and overall well-being. #CyberSecurity #HyderabadPolice #CyberSafety #DataPrivacy #CyberCrimeAlert— V.C. Sajjanar, IPS (@SajjanarVC_IPS) November 9, 2026
He pointed out that several NBFCs depend on third-party modules and application programming interface (API) services to manage customer information and payment transactions.These supporting systems must receive the same level of security protection as the organisations’ primary applications.Hackers target payment APIs to divert croresThe Commissioner warned that cybercriminals could exploit automated fund-disbursement systems and payment APIs to transfer large sums of money into mule bank accounts at extraordinary speeds.In such attacks, hackers may also attempt to erase digital records, making it difficult for investigators to trace the transactions and identify those responsible.He called on financial institutions to immediately identify and eliminate vulnerabilities in their digital infrastructure.Banks told to remove unused APIs and update softwareSajjanar directed financial institutions to remove obsolete APIs and those developed for testing purposes but left unused in their systems.He also stressed the need to strengthen security around critical fund-disbursement systems and regularly update software across organisational networks.Internet-connected customer portals must undergo daily security reviews to identify and fix technical vulnerabilities.Financial institutions should also introduce transaction limits and monitoring mechanisms to flag unusually large transfers or multiple high-value transactions taking place at abnormal speeds. Beneficiary details must be thoroughly verified before funds are released.Mandatory KYC and senior-level approvalThe Commissioner emphasised that complete Know Your Customer (KYC) verification must be carried out before funds are credited to beneficiary accounts.Senior-level approval should also be made mandatory for sensitive financial transactions to prevent unauthorised fund transfers.He further advised organisations to ensure close coordination between their IT and cybersecurity teams and regularly conduct simulated cyberattack exercises, known as ‘red team’ drills, to assess their preparedness and improve their response to potential security breaches.Public urged to report cyber fraud immediatelyReiterating that even minor security lapses could put citizens’ financial information and money at risk, Sajjanar urged organisations to adopt the highest cybersecurity standards and prioritise preventive measures.He also appealed to people to immediately report suspicious financial transactions or cyber fraud by calling the national cybercrime helpline 1930 or registering a complaint on the official portal cybercrime.gov.in.
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