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The rapid transformation of banking and financial services is creating a fundamentally new cyber threat landscape, according to a report that argues traditional security models are no longer sufficient to serve today's interconnected ecosystems. The Digital Threat Report 2025-26, released on Monday, notes that conventional cybersecurity architectures were designed around centralised systems where trust boundaries were defined. Today's financial ecosystem, however, is built around interconnected platforms, embedded finance, AI-driven decision-making and real-time payments, dramatically expanding the attack surface, says the new report by the Ministry of Electronics and Information Technology (MeitY), Indian Computer Emergency Response Team (CERT-In), the Computer Security Incident Response Team in Finance (CSIRT-Fin) and SISA. "Modern financial attacks are moving from direct compromise to trust-chain manipulation across biometric onboarding, partner apps, AI decisioning, real-time ..
Three officials of leading private banks were arrested for their alleged involvement in a Rs 2,500-crore cyber fraud racket in Gujarat's Rajkot district, bringing the number of those held so far in the case to 20, police said on Monday. Those arrested were identified as Maulik Kamani, a personal manager at Yes Bank in Padadhari; Kalpesh Dangariya, a manager at Axis Bank in Jamnagar; and Anurag Baldha, a personal banker with HDFC Bank, Rajkot (Rural) Superintendent of Police Vijay Gurjar said. Dangariya and Baldha were previously employed with Yes Bank, he added. Kamani allegedly assisted the earlier arrested accused in opening and managing suspicious accounts. He also helped bypass banking alerts triggered by high-value transactions by submitting additional documentation to keep accounts active, the SP said. Kamani was allegedly involved in cash withdrawals that were later routed through hawala channels (illegal money transfer system), supported by digital evidence recovered from h
The Supreme Court on Monday said it would hear next week a suo motu case concerning victims of digital arrest. Digital arrest is a growing form of cybercrime in which fraudsters pose as law enforcement officers, court officials or personnel from government agencies to intimidate victims through audio and video calls. They hold the victims hostage and put pressure on them to pay money. On February 9, the top court described the siphoning of more than Rs 54,000 crore by digital frauds as absolute "robbery or dacoity" and asked the Centre to draft a standard operating procedure (SoP) in consultation with stakeholders like the RBI, banks and the Department of Telecommunications to deal with such cases. On Monday, Attorney General R Venkataramani mentioned the matter before a bench of Chief Justice Surya Kant and Justice Joymalya Bagchi. The top law officer said he would place a status report in the matter during the day. Contending that things are moving, he urged the bench to take up