&w=1200&q=75)
&w=1200&q=75)
Experts Advocate for Comprehensive Overhaul to Tackle AI-Driven Financial Crimes
Experts urge overhaul to combat AI-driven financial crime at FICCI
Asianet Newsable
Image: Asianet Newsable
At the FICCI Conference on Next-Gen Forensics, experts highlighted the urgent need for a complete overhaul of investigative methods to combat AI-driven financial crimes. They emphasized the importance of advanced technology, real-time intelligence sharing, and collaboration among regulators, private firms, and law enforcement to protect investors and businesses.
- 01Brijesh Singh, Principal Secretary of Maharashtra, noted that cybercrime has evolved into an industrial model, requiring faster investigative responses.
- 02Govindayapalli Ram Mohan Rao from SEBI emphasized proactive monitoring and tech-led initiatives to enhance investor protection and digital trust.
- 03The FICCI-KPMG Report indicated that the surge in digital payments and internet access has increased the risk of organized fraud.
- 04Amey Mirajkar from Khaitan & Co highlighted legal and compliance challenges posed by sophisticated fraud networks in India's digital economy.
- 05A call for unified action was made to connect digital footprints and generate actionable insights for fraud prevention.
Advertisement
In-Article Ad
During the FICCI Conference on Next-Gen Forensics, experts discussed the growing complexity of financial crimes driven by artificial intelligence (AI) and the urgent need for a comprehensive overhaul of investigative techniques. Brijesh Singh, Principal Secretary of Maharashtra, pointed out that cybercrime has become industrialized, with organized groups specializing in various aspects of fraud, making traditional methods inadequate. He called for integrated forensic platforms and real-time intelligence sharing to combat these threats effectively. Govindayapalli Ram Mohan Rao from SEBI stressed the importance of proactive measures, such as cybersecurity audits and tech-driven initiatives, to enhance investor protection. The FICCI-KPMG Report highlighted that the expansion of digital services has increased fraud risks, necessitating a shift to intelligence-driven investigations. Legal expert Amey Mirajkar noted the challenges posed by virtual assets and cross-border fraud in adapting compliance frameworks. The conference concluded with a call for collaboration among industry stakeholders to improve fraud prevention strategies.
Advertisement
In-Article Ad
The overhaul of investigative methods and regulatory measures aims to enhance the security of digital transactions and protect investors from fraud.
Advertisement
In-Article Ad
Reader Poll
How concerned are you about AI-driven financial crimes?
Connecting to poll...
More about FICCI
Read the original article
Visit the source for the complete story.