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The bank has not issued a statement of any breach yet but the scale of the claim has triggered alarm among cybersecurity watchers.
Capillary added it has recovered around Rs 4.9 crore and has identified additional funds while securing the freezing of related bank accounts.
The card strategy of the fintech-friendly Federal Bank; and on the AI front we write, as AI systems begin to autonomously find and exploit vulnerabilities, cybersecurity is entering a new phase.
As digital transactions hit record highs, a yawning cybersecurity skills gap threatens the infrastructure that hundreds of millions of Indians now depend on.
The urgency to form the task force comes in the wake of Anthropic's controlled rollout of Mythos under a programme called Project Glasswing.
Better Capital, Carya Venture Partners, and major cybersecurity angel investors also participated in the funding round.
MobiKwik has already recovered Rs 14 crore. An FIR has been filed and over 2,000 merchant bank accounts have been frozen.
Recent data from the National Cybercrime Reporting Portal reveals a sharp increase in digital fraud incidents across India, with over 7,000 complaints reported daily...
