Strategic Consultant
Synthetic Phishing utilizes AI-generated deepfakes and synthetic identities to execute highly convincing scams, posing an urgent threat to India's digital payments system. This new form of deception exploits trust and bypasses traditional security, especially targeting the instantaneous, irreversible nature of UPI. Banks, regulators, and users must upgrade defenses and digital literacy to protect the nation's financial future.
In a rapidly evolving technological landscape, businesses must prioritize resilience through Business Continuity Planning (BCP). AI enhances BCP by predicting risks, improving response times, and aiding recovery. Its capabilities in risk assessment, scenario planning, real-time crisis management, and post-crisis analysis bolster organisational preparedness. Despite challenges like data quality and ethical concerns, the advantages of integrating AI—such as proactive risk management and cost efficiency—position businesses to navigate disruptions effectively and thrive amid uncertainty.
The corporate lending and trade finance sectors are evolving due to digitalisation, AI, and global market dynamics, creating opportunities alongside challenges. Institutional investors and private credit funds are gaining prominence, requiring agility and transparency. Financial institutions must enhance digital services to meet client expectations while addressing a looming talent crisis as seasoned professionals retire. AI is transforming operations, and tokenisation may revolutionise trade finance, although standardisation hurdles exist. Adapting to these trends is essential for success.
AI is indeed revolutionizing economies, but its benefits are disproportionately distributed, with advanced nations reaping more advantages compared to developing countries. To create a fair future, it is essential to implement inclusive policies, foster international cooperation, and prioritize the ethical development of AI technologies.
A recent United Nations report has revealed that criminal networks in Southeast Asia are increasingly exploiting encrypted messaging platforms to facilitate large-scale illegal activities, including trading hacked data, cybercrime tools, and laundering money through unlicensed cryptocurrency exchanges. Organised crime syndicates, particularly from China, are using these platforms to operate fraud schemes that generate billions of dollars annually. The report also highlights the use of advanced technology such as deepfakes and artificial intelligence to innovate cyber-enabled fraud. Despite increased legal scrutiny, these platforms remain a hub for illegal transactions due to their lax moderation and privacy-focused design.
Indrajit Roy Choudhury 