Cybersecurity Risks: FM Calls for Vigilance

Mumbai, Apr 25 (PTI) Union Finance Minister Nirmala Sitharaman on Saturday exhorted regulated entities in the financial sector to be "exceptionally vigilant" against cybersecurity risks.

Speaking at capital markets regulator Sebi's 38th foundational day event here, Sitharaman said a single cyber attack on an exchange or depository can disrupt economic activity and impact people's trust.

Emergence of newer, artificial intelligence-powered tools to make automated attacks makes cyber defence more pertinent, she said.


"...not just Sebi but all regulated entities will have to remain exceptionally vigilant. The tools of attack are evolving at high speed, and the tools of defence must evolve even faster," she said.

The comments come amid heightened concerns on the capabilities which frontier AI company Anthropic's newly developed "Mythos" platform portends for cybersecurity and has led regulators across jurisdictions scrambling on ways to mitigate any disruptions.

Sitharaman urged Sebi to institutionalise a system of periodic consultation with its peers across the world, making it clear that Indian regulations must not imitate other countries.

In the comments that come amid unease shown in foreign flows, Sitharaman said that having such a dialogue between the regulators can give confidence to global capital.