Hyderabad: Hyderabad Police Commissioner V.C. Sajjanar on Monday called upon banks, financial institutions and digital service providers to strengthen their cybersecurity infrastructure and remain highly vigilant against the growing threat of sophisticated cyberattacks powered by Artificial Intelligence (AI).
Expressing concern over the increasing complexity of cybercrime incidents, Sajjanar said organisations handling citizens’ financial transactions and sensitive personal information must upgrade their security systems, strengthen internal processes and deploy skilled cybersecurity professionals to counter emerging threats.
He specifically urged banks, Non-Banking Financial Companies (NBFCs), quick-commerce platforms and mobility service providers to develop proactive strategies to protect their digital networks from international hacker groups and AI-assisted cybercriminal activities.
The Commissioner stressed that third-party applications, API services and other external modules handling confidential customer information and payment transactions must receive the same level of security attention as an organisation’s core applications. He said there should be no compromise on cybersecurity standards anywhere in the digital ecosystem.
Highlighting the latest methods adopted by cybercriminals, Sajjanar pointed out that hackers are increasingly using AI-based tools to identify weaknesses in financial institutions’ digital networks. Outdated software, improperly configured internet-facing systems and technical loopholes in customer grievance portals are among the vulnerabilities being exploited.
He warned that cybercriminal syndicates could misuse automated fund-disbursement systems and payment APIs to divert crores of rupees into mule bank accounts within seconds. In some cases, digital records may also be deliberately erased to make it difficult for investigating agencies to trace the transactions and identify those responsible.
Commissioner outlines key preventive measures
To prevent such incidents, Sajjanar advised financial institutions to immediately identify and remove obsolete APIs, including testing-related interfaces that remain active even after their intended use has ended.
He also called for stronger protection of critical fund-disbursement systems, regular software updates and comprehensive daily security audits of customer portals accessible through the internet.
Financial institutions should establish clear transaction thresholds to identify unusually large or rapid money transfers. Beneficiary details must be thoroughly verified before processing payments, he said.
The Commissioner further emphasised the importance of completing comprehensive Know Your Customer (KYC) verification before crediting funds to beneficiary accounts and obtaining approval from senior officials wherever required.
He also recommended that IT and cybersecurity teams work together to conduct frequent Red Team exercises and simulated cyberattack drills to assess vulnerabilities and improve their preparedness to respond to potential security breaches.
Sajjanar stressed that organisations dealing with public money and sensitive personal data must adopt the highest cybersecurity standards and ensure that even minor technical vulnerabilities are identified and addressed without delay.
He said preventive measures, continuous monitoring and stronger cybersecurity practices are essential to protect citizens’ financial interests and maintain confidence in digital transactions.
Public urged to report cyber fraud immediately
Meanwhile, the Hyderabad Police Commissioner appealed to citizens to remain alert while carrying out online financial transactions. Anyone who notices a suspicious transaction or becomes a victim of cyber fraud should immediately contact the national cybercrime helpline 1930 or register a complaint through the official portal https://cybercrime.gov.in.
He emphasised that reporting cyber fraud without delay can help authorities take timely action and improve the chances of preventing further financial losses.
