Cyberattack at one of the oldest Indian co-op banks, crores stolen?

Cosmos Bank, one of the oldest Indian co-op banks is suspected to be hacked and more than INR 94 crore is allegedly transferred to foreign bank accounts. Bank officials have already lodged a complaint to the police reporting the crime.

According to bank officials, it is a case of a malware attack on the ATM switch, situated at Cosmos Bank’s Ganeshkhind Road, Pune head office.

The bank officials additionally said that INR 80.5 crore were initially transferred to a foreign bank in 14,849 transactions of the debit card, and another INR 13.9 crore transferred in a SWIFT transaction.

The police statement also revealed that there were atleast a couple of separate transactions over the last two days and information of thousands of debit cards have been stolen by suspected cybercriminals in the malware attack.

A detailed investigation is already underway...

Chuck Taylor All Star