Cybersecurity leader Quick Heal Technologies Ltd is optimistic that the launch of the country’s first all-in-one fraud prevention solution will boost growth in its consumer business, which currently contributes 62 per cent of its revenue, a company official said on Thursday.The publicly listed company aims to leverage its leadership position to promote its AntiFraud.AI product, targeting individual computer and mobile phone users amid the rising threat of financial fraud.
According to the Indian Cybercrime Coordination Centre, Indians lost approximately Rs 1,750 crore to fraudsters in just the first four months of the year, between January and April 2024.
“We are very positive about our new anti-fraud cybersecurity product targeted at individual users. This will significantly boost our consumer business in the years to come, which has been facing headwinds,” said Quick Heal Managing Director Kailash Katkar, without providing specific growth projections.