State-run Punjab National Bank (PNB) has cautioned its customers about AI-enabled cyberattacks, especially AI voice cloning, deepfakes, and phishing, amid surging incidents of fraud, and has advised them to remain vigilant.
Highlighting that October is observed as National Cyber Security Awareness Month every year, the bank informed customers that fraudsters are using increasingly sophisticated methods to make their attempts more convincing.
"Many cyber frauds today exploit human behaviour, particularly trust, fear, urgency and everyday digital habits. Fraudsters may imitate the voice or appearance of your family members, friends, or trusted persons and create a false emergency to seek an urgent transfer of money," PNB MD and CEO Ashok Chandra said in his message to customers.
Similarly, fraudulent emails, SMS or messages may appear highly personalised and like genuine bank communications, making them more difficult to identify, he said, adding that they create panic and make customers act without verification.
In view of rising incidents of cybercrimes across the country, the domestic public and private sector banks are actively ramping up IT and cybersecurity investments to combat evolving threats from advanced artificial intelligence, quantum computing risks, and strict regulatory mandates from the Reserve Bank of India.