Mumbai: As artificial intelligence increasingly reshapes the financial sector, Indian banks are facing a sharp rise in fraud-related challenges, with 84 per cent of banking leaders reporting higher fraud losses over the past year, according to a survey report by BioCatch.
The survey, which covered 1,440 fraud-management, anti-money laundering (AML), and risk and compliance leaders across 25 countries, found that India has emerged as one of the most concerned and heavily impacted markets when it comes to financial fraud and AI-enabled threats.
