Faculty Seminar Series – 5

The fifth session of the Faculty Seminar Series (FSS – 05) for the year 2025–26 was held on 23rd October 2025 at Learning Gallery 4 (LG4), LIBA, featuring a joint presentation by Dr. Akanksha Jaiswal and Dr. Ameeta Fernando on the topic “Financial Cybercrime: Exploring Vulnerabilities in the Indian Digital Landscape.” Outlining the alarming rise of financial cybercrime in India’s rapidly expanding digital economy, the speakers highlighted a tenfold increase in cybercrime cases between 2019 and 2025, with financial losses estimated at ₹23,000 crore in 2024, underscoring the need for stronger digital safeguards. The presentation examined the evolving nature of cyber threats, including identity theft, phishing, synthetic identity fraud, SIM swapping, insider attacks, and AI-driven scams. Key vulnerabilities such as weak KYC processes, ghost SIM cards, and insider collusion were identified as major enablers of large-scale financial fraud. Drawing on Sarkar and Shickle (2023), the speakers explained the four stages of cybercrime—information gathering, targeting, manipulation, and evasion—and illustrated contemporary schemes such as “pig butchering,” fake investment platforms, and CEO impersonation frauds.