THE WEAPONISATION OF ARTIFICIAL INTELLIGENCE IN DAILY LIFE FINTECH CRIMES: AN EXHAUSTIVE ANALYSIS OF THE INDIAN LANDSCAPE (2024-2025)
AUTHOR – PROF. (DR.) SHEPHALI YADAV* & PRADEEP KUMAR SINGH**
* HEAD & DEAN, FACULTY OF LAW, DR. SHAKUNTALA MISRA NATIONAL REHABILITATION UNIVERSITY, LUCKNOW
** RESEARCH SCHOLAR, FACULTY OF LAW, DR. SHAKUNTALA MISRA NATIONAL REHABILITATION UNIVERSITY, LUCKNOW
BEST CITATION – PROF. (DR.) SHEPHALI YADAV & PRADEEP KUMAR SINGH, THE WEAPONISATION OF ARTIFICIAL INTELLIGENCE IN DAILY LIFE FINTECH CRIMES: AN EXHAUSTIVE ANALYSIS OF THE INDIAN LANDSCAPE (2024-2025), INDIANJOURNAL OF LEGAL REVIEW (IJLR), 5 (14) OF 2025, PG. 1060-1072, APIS – 3920 – 0001 & ISSN – 2583-2344. DOI – https://doi.org/10.65393/ODAX2078
Abstract
The rapid adoption of Artificial Intelligence (AI) in the financial technology (FinTech) sector has led to two primary outcomes in India. While AI has improved financial inclusion, speed, and efficiency, it has also enabled criminals to carry out more advanced and automated financial crimes. This paper examines the role of AI in the rise of everyday FinTech-related crimes in India during the period 2024–2025. The proliferation of Fraud-as-a-Service (FaaS) platforms, the growing use of deepfake technology in ‘Digital Arrest’ schemes, and the sociological problem of cyber-slavery in Southeast Asia, which facilitates extensive online fraud operations, are among the major trends that are the focus of this study. It also analyses India’s current legal and regulatory framework, including the Digital Personal Data Protection (DPDP) Act, 2023, the Bharatiya Nyaya Sanhita (BNS), 2023, and RBI guidelines and compares them with global standards such as the European Union AI Act. The paper identifies significant gaps in Indian laws regarding AI-driven financial crimes. To increase resilience against risks facilitated by AI, the report suggests technological, legal, and societal measures in its conclusion. According to the report, human trust and perception are now the primary targets of contemporary cybercrime, indicating that knowledge and regulation are equally crucial as technological defences.
Keywords: Artificial Intelligence, FinTech Crime, Deepfakes, Digital Arrest, Fraud-as-a-Service, Money Laundering, Cyber Slavery, RBI Guidelines, DPDP Act.