AI Fuels Cybersecurity Risks and Threats: Reserve Bank Governor Sanjay Malhotra Warns of Money Laundering Dangers

Published on 4.8.25

  The increasing reliance on artificial intelligence (AI) has brought about both benefits and challenges in various sectors. In the context of cybersecurity, AI's dual role is evident in its ability to facilitate ease of doing business while also providing sophisticated means for illicit financing. Reserve Bank Governor Sanjay Malhotra emphasized the need for regulators to continuously enhance their AI and ML risk assessment framework to combat money laundering. The Department of Privacy and Cybersecurity has introduced initiatives such as the Cybersec One Programme and the Cybersecurity Vendor Connect Programme to support small and medium-sized enterprises (SMEs) in addressing vulnerabilities and staying resilient against evolving threats. However, AI's benefits are also being exploited by cybercriminals. Researchers from Incogni reported that 487,961 unique email addresses were allegedly compromised, posing a risk to individuals who interact with the organization. The increasing reliance on AI has created a need for enhanced cybersecurity measures to protect against emerging threats. As Commissioner for Digital Policy Tony Wong noted, smart technologies have driven the growth of enterprises' dependence on information systems, making it essential to address vulnerabilities and stay ahead of evolving cybercrime trends.

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