By: Anuj Khurana, Co-founder & CEO, Anaptyss
“In an increasingly digital world, data privacy has moved beyond being a compliance checkbox to becoming a core business and risk imperative with direct financial impact. In 2025, the average cost of a data breach has risen to approximately USD 4.4 million, with financial services institutions facing even higher exposure- often exceeding USD 5.5-6.0 million per incident- given the sensitivity of their data and the complexity of their ecosystems.
Across the global BFSI landscape, threat vectors continue to evolve. Phishing and supply-chain compromises remain persistent drivers of breaches, but a newer and fast-emerging risk is the ungoverned use of AI, often referred to as ‘Shadow AI’. In India, Shadow AI already ranks among the top three contributors to breach costs, underscoring a broader global trend where the pace of AI adoption is outstripping security, governance, and regulatory controls.
At Anaptyss, we see this convergence of data privacy, cybersecurity, and financial crime risk as a defining challenge for the industry. BFSI organizations can no longer afford to manage privacy, compliance, and financial crime controls in silos. Modern risk and compliance architectures must be engineered with privacy-by-design at their core- embedding data classification, lineage and provenance tracking, access governance, model explainability, and lifecycle management directly into AML, fraud detection, and risk analytics platforms.
By aligning data governance with real-time risk intelligence and resilient operating controls, financial institutions can not only reduce privacy breach exposure but also strengthen their defenses against financial crime. On this Data Privacy Day, the message is clear: responsible data and AI governance is no longer optional- it is foundational to trust, resilience, and sustainable innovation in the financial services ecosystem.”