Homegrown cybersecurity solutions company, Quick Heal Technologies Limited, has launched an artificial intelligence-based anti-fraud solution that promises timely alerts on cyber fraud.
Besides alerting the users about fraud calls and apps, AntiFraud.AI will also monitor the dark web (the underground Internet where hackers publish stolen data).
“The solution provides digital safety against the escalating threat of financial frauds which is impacting everyone,” Sanjay Katkar, Co-Founder and Joint Managing Director of Quick Heal, told businessline.
He said the cyber threat landscape was an ever-evolving space, with fraudsters coming up with newer attack strategies.
“They call people and ask them to press certain numbers. They can take control of your phones or accounts by diverting OTPs to them,” he said.
Quoting the Indian Cybercrime Coordination Centre, he said that several victims in the country lost an estimated ₹1,750 crore to cyber frauds during January-April 2024.
“The gravity of the situation is further underlined by the National Cybercrime Reporting Portal, which received over 7.40 lakh complaints regarding cyber frauds. These numbers highlight the urgent need for comprehensive fraud prevention solutions,” he said.
Sneha Katkar, who led the team that developed the solution, said that the product can be an add-on solution, adding value to the existing cybersecurity solutions.
The company is going to integrate AntiFraud.AI with its flagship protection plan beginning the next update.
“The solution will assess your risk level with actionable recommendations to reduce exposure to fraud. It uses algorithms to identify and block phishing links and fraudulent websites, enhancing online security,” he said.
She said the solution continuously scans for malicious applications and delivers real-time alerts about potentially harmful apps.
The tool is available on Android, iOS, and Windows platforms, catering to diverse user preferences.