The National Cyber Emergency Response Team (NCERT) warned of growing threats from cyberattacks driven by artificial intelligence (AI), automated bots and botnets, highlighting risks to financial institutions and critical infrastructure.

In an advisory issued on November 5, NCERT noted an increase in the use of AI-powered tools and automated systems to carry out coordinated cyberattacks, including credential-based attacks. It said these technologies could increase the scale and efficiency of cyber operations.

The advisory cautioned that banks could face attacks targeting core banking systems, digital platforms and customer applications, potentially disrupting services and enabling the manipulation of account balances. Oil and gas facilities, water utilities and power generation systems were also identified as vulnerable, particularly through third-party service providers and connected Internet of Things (IoT) devices.

To reduce risks, NCERT urged financial institutions to strengthen security measures for core banking systems and application programming interfaces (APIs), implement multi-factor authentication and monitor suspicious login attempts, unauthorised access and discrepancies in account balances.

For critical infrastructure operators, it recommended identifying internet-connected IoT and operational technology (OT) assets, reviewing industrial control system security, strengthening network segmentation and maintaining continuous monitoring. Organisations were also advised to install security updates, maintain incident response plans and logs, and report suspicious activities to the relevant authorities.