New Delhi, Oct 20 — State-run Punjab National Bank (PNB) has cautioned customers against AI-enabled cyber frauds, including voice cloning, deepfakes and phishing, amid a surge in such incidents.
In a message to customers, PNB MD and CEO Ashok Chandra said fraudsters are using increasingly sophisticated methods to make their attempts more convincing, as October is observed as National Cyber Security Awareness Month.
"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," Chandra said.
He said fraudulent emails, SMS or messages may appear highly personalised and like genuine bank communications, making them difficult to identify, and are designed to create panic and force customers to act without verification.
Amid rising cybercrime cases across the country, public and private sector banks are 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.
Separately, a 70-year-old man was duped of Rs 4.81 lakh by cyber fraudsters on the pretext of pension card registration in Pune's Baner area.
The victim, Dilip Eknath Waikar -- a resident of Pashan -- received a WhatsApp message regarding pension card registration between September 8 and 9.
He was asked to open the link and enter his bank account details after which Rs 4.81 lakh was fraudulently withdrawn from his account.
Following a complaint, a case was registered at Baner police station under Sections 318(4) and 318(2) of the Bharatiya Nyaya Sanhita (BNS) and Section 66(D) of the Information Technology Act. No arrests have been made so far.
In a similar incident last month, a 72-year-old retired bank employee in Ahmedabad's Makarba area lost Rs 5 lakh after clicking on a Facebook advertisement offering a pension card.