Cyberattacks affect 20 financial institutions; CERT-In warns on API vulnerabilities and security measures

Around 20 financial institutions were affected by cyberattacks earlier this month, with hackers exploiting stolen partner-bank credentials and vulnerabilities in payment APIs to siphon off funds. CERT-In issued an advisory urging banks, NBFCs, and fintech firms to suspend compromised interfaces, strengthen transaction safeguards, and tighten customer verification.