Cyber Criminals Target Smaller NBFCs Using AI Toolkits
Cyber criminals are reportedly targeting smaller NBFCs, or non-banking financial companies, using specialised AI toolkits. The warning comes in today's ETtech Top 5 briefing for India, which also highlights Pine Labs' sharp jump in Q2 profit. Lenders and their customers should be alert to scams and data theft.
Quick glossaryNBFCs, Pine Labs, AI toolkits
- NBFCs
- Non-banking financial companies are lenders that offer loans and credit without being regular banks.
- Pine Labs
- Pine Labs is an Indian company that provides payment machines and payment services for shops and businesses.
- AI toolkits
- Ready-made sets of AI software tools that help people carry out tasks like writing messages or finding targets quickly.
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