India’s cybersecurity agency has identified a hacking group responsible for a series of AI-driven cyberattacks targeting financial institutions, fintech companies and cryptocurrency exchanges. The agency has also named the tools used in the attacks, with at least two reportedly linked to China.

The Indian Computer Emergency Response Team (CERT-In) has identified the group as “Crafty Falcon” and warned that its cyber activities remain active and ongoing. According to an advisory issued on Wednesday, the group has breached several non-bank lenders, fintech firms and cryptocurrency exchanges across India.

The warning comes amid a growing wave of cyberattacks targeting Indian banks and non-banking financial companies in recent weeks. The incidents have raised concerns about the increasing use of artificial intelligence to carry out sophisticated cyber operations against financial institutions.

CERT-In said the attackers are using publicly available AI tools to automate cyber intrusions at unprecedented speed. Describing the threat as operating at “machine speed,” the agency cautioned that AI-powered automation is making cyberattacks faster and potentially more difficult for organisations to detect and prevent.

The advisory also highlights the international reach of the tools being used by cybercriminal groups. One such tool, China-made ARTEX, has reportedly been used in attacks against South Korean banks since late September, according to cybersecurity firm CrowdStrike.

The identification of Crafty Falcon adds India to a growing list of countries where AI-driven hacking tools have reportedly been deployed against financial institutions.

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The developments come as Indian authorities step up efforts to strengthen the country's financial cybersecurity framework. The Reserve Bank of India has tightened cybersecurity checks, while CERT-In continues to issue warnings to financial organisations.

The agency's latest advisory underscores the urgent need for banks and financial firms to strengthen their digital defences, monitor suspicious activity and prepare for increasingly automated cyber threats.