
Nirmala Sitharaman Calls on Fintech Industry to Bolster Cybersecurity Amid Crypto Threats
New Delhi: During the inauguration of the three-day Global Fintech Fest (GFF 2023), Finance Minister Sitharaman emphasized the critical need for fintech companies to safeguard against various threats. She highlighted that fintech has become a potent tool for financial inclusion and noted that they now hold a 36 percent share of new-to-credit customers, surpassing brick-and-mortar banks with their 22 percent share in this core business area.Sitharaman acknowledged that the fintech ecosystem, while thriving, is susceptible to a range of challenges. These encompass traditional concerns such as physical border threats arising from conventional warfare, as well as contemporary issues like cyber threats, crypto threats, drug-related concerns, and tax evasion schemes.To counter these thre...









