Infocomm Infocomm
24th NBFC100 TECH SUMMIT AWARDS 24th NBFC100 TECH SUMMIT AWARDS
BFSI AI SUMMIT BFSI AI SUMMIT
Home Regulators RBI SEBI TechINFRA Security Data Centre Cloud Services Government Reforms DBT Aadhaar GST Payments Payment Gateways ATM Point of Sale Payment Wallets Fintech Apps Banks Public Sector Private Sector Cooperative NBFCs Year Ender Magazine Magazine Subscription Articles Interviews Webinars Webinar Videos Video Series — Innovation Talk Upcoming Initiatives BFSI Events About Us Contact Us

‘Digital Arrests’ Fall 67%, Investment Fraud Emerges as Growing Cybercrime Threat

Digital Arrests

Mumbai, September 17, 2026: Cybercrime patterns are rapidly evolving, with so-called ‘digital arrest’ scams declining by 67 per cent following sustained awareness campaigns, while investment fraud has emerged as a growing area of concern, said Brijesh Singh, Principal Secretary, Directorate of Information and Public Relations, Government of Maharashtra.

Speaking at a panel discussion titled “Agentic AI VS Cyber Crime: Automation on Both Sides” at Global Fintech Fest (GFF) 2026 in Mumbai, Singh said awareness initiatives, including Prime Minister Narendra Modi’s references to digital arrest scams during Mann Ki Baat, have contributed to the decline. However, he cautioned that cybercriminals are continuously adapting their methods.

Advertisementgreylabs

“Awareness alone cannot outpace fraud, which keeps adapting and getting complex,” Singh said, highlighting the need for cybersecurity systems to evolve at the same pace as emerging threats.

According to Singh, the rise of agentic AI has significantly altered the cybersecurity landscape, enabling cyberattacks that previously required multiple human participants to be executed autonomously and adapted in real time. He called for defensive systems to match this speed and sophistication.

Advertisement24th Elets NBFC100 Tech Summit & Awards, Mumbai

He also stressed the need to approach cybersecurity as a shared digital infrastructure rather than an individual institutional responsibility. Singh noted that fraud networks increasingly operate across telecom networks, applications, banking platforms and social media, making protection limited to individual organisational perimeters insufficient.

AdvertisementInfoComm India 2026

Singh further pointed to the Reserve Bank Innovation Hub’s upcoming Digital Payments Intelligence Platform as an example of the shift towards continuous, risk-based monitoring. He noted that accounts can potentially become mule accounts even when they have clean KYC records at the time of onboarding.

AdvertisementElets BFSI AI Summit & Awards, Mumbai

The discussion also highlighted the growing role of generative AI in financial fraud. Singh said real-time deepfakes have become increasingly accessible, allowing fraudsters to impersonate individuals during video calls. He also pointed to challenges around digital provenance, where the ability to dismiss genuine evidence as AI-generated could make fraud investigations and prosecution more difficult.

Rajesh Thapar, CISO, NSE India, said cyber defence needs to operate at “machine speed” and should be built around four pillars: anticipating threats, preventing attacks, withstanding incidents and adapting to changing risks. He also emphasised that AI should remain under human control.

Also Read: State Bank of India Digitises Savings-to-Salary Journey for Existing Customers

Mithilesh Singh, Managing Director, Protiviti, stressed that trust and transparency must remain central as financial institutions and other organisations expand their adoption of AI technologies.

The panel was moderated by Viswanath Krishnamurty, CRO, NPCI, and formed part of GFF 2026, which brought together stakeholders from the financial services, payments, technology and cybersecurity ecosystem to discuss emerging challenges and opportunities in digital finance.

Global Fintech Fest 2026 is organised by the Payments Council of India (PCI), National Payments Corporation of India (NPCI) and Fintech Convergence Council (FCC), with support from government and financial-sector institutions.

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram.

Our Coverage of News

Yugal Tiwari Appointed Chief Product and Marketing Officer at BharatPe

Fintech company BharatPe has appointed Yugal Tiwari as its Chief Product and Marketing Officer (CPMO), bringing extensive experience… Read more →

Abhinav Trivedi Appointed MD & CEO of Standard Chartered Capital Limited

Abhinav Trivedi has been appointed as the Managing Director (MD) & Chief Executive Officer (CEO) of Standard Chartered… Read more →

State Bank of India Digitises Savings-to-Salary Journey for Existing Customers

State Bank of India (SBI) has launched a digital Savings Account to Salary Account journey in collaboration with… Read more →

novio Partners with Indian Overseas Bank to Launch Co-branded RuPay Credit Card

novio, the consumer credit platform from Credilio Financial Technologies, has announced a strategic partnership with Indian Overseas Bank… Read more →

Abhinav Trivedi Appointed MD & CEO of Standard Chartered Capital

Mumbai, September 2026: Abhinav Trivedi has been appointed as the Managing Director (MD) & Chief Executive Officer (CEO)… Read more →

Avendus Wealth Appoints Umang Papneja as CEO & Executive Vice Chairman

Mumbai-based Avendus Wealth Management Private Limited has appointed Umang Papneja as Executive Vice Chairman and Chief Executive Officer… Read more →