Banks, utilities among services put on alert against AI-enabled cyberthreats

The National Cyber Emergency Response Team (NCERT) has issued a warning about the growing threat of artificial intelligence (AI) and automated cyberattacks, particularly targeting financial services and critical infrastructure. The advisory, released on November 5, highlights the potential for AI-enabled tools to enhance the scale, speed, and sophistication of cyber threats.

Financial institutions are advised to be vigilant for signs of AI-powered attacks, such as frequent login attempts, authentication failures, and unusual API requests. Indications of an attack on critical infrastructure may include changes to critical parameters like refinery operations, grid power, or distribution systems, as well as unexpected changes in pressure, temperature, or control settings of operational technology devices.

NCERT recommends that financial services strengthen their core banking security, API protection, and authentication methods while implementing multi-factor authentication and integrity checks. They should also monitor for bot-driven activities, potential service disruptions, and abnormal API usage.

Utility providers are advised to limit internet exposure, restrict remote access, and secure IoT assets and industrial control systems. They should enforce network segmentation between operational and IT systems, continuously monitor access to critical operations, and maintain backup procedures for essential processes. Additionally, NCERT urges all organizations to assess their preparedness against bot-driven AI cyber threats and establish strong incident response and security monitoring protocols.