Punjab National Bank (PNB) has urged customers to exercise caution against AI-powered cyber frauds, warning that criminals are increasingly using cloned voices, deepfake videos and personalised phishing messages to deceive victims.
The advisory, issued during National Cyber Security Awareness Month in October, highlights how artificial intelligence is making digital scams more convincing. The bank said fraudsters exploit emotions such as fear, trust and urgency to pressure people into transferring money or disclosing sensitive information.
PNB Managing Director and CEO Ashok Chandra noted that scammers often impersonate trusted individuals to create a sense of emergency. Victims may receive calls featuring cloned voices of relatives or friends seeking immediate financial assistance. Fake emails and SMS messages resembling genuine bank communications are also being used to trick customers.
Srinivas L, Joint MD and Joint CEO of 63SATS Cybertech, warned that urgency remains a common tactic in cyber fraud. Scammers may use fabricated claims of a family member’s arrest, deepfake videos of police officers threatening a “digital arrest”, or messages warning that a bank account will be blocked shortly.
Experts have advised customers to independently verify suspicious requests before taking action. Users should disconnect suspicious calls and contact the purported caller through a previously saved number. Families can also establish a private code word to verify identities during emergencies.
Customers are further encouraged to enable two-factor authentication across banking, email and social media accounts, maintain unique passwords for different services, and set daily transaction limits for UPI and cards.
Indian banks are strengthening their IT infrastructure and cybersecurity measures amid evolving digital threats, including advanced AI-enabled attacks and emerging quantum computing risks.
PNB emphasised that customer awareness, alongside institutional security measures, remains essential to preventing financial losses as cybercriminals adopt increasingly sophisticated techniques.
