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Cosmos bank hacked by unidentified malware, money siphoned

Malware

Cosmos Cooperative Bank was hacked into twice last Saturday and yesterday (11–13 August), where hackers reportedly siphoned Rs 95 crore, IANS reports. An FIR was lodged in the Chaturshringi Police Station in Pune, where the bank is headquartered, following this attack.

The report adds that unknown persons hacked the ATM servers in Pune, acquired sensitive data of Visa and RuPay debit card customers and carried out 2,800 false transactions to the tune of Rs 2.5 crore using 400 debit cards. The bank said that “no customer account was affected”, and dummy cards were used to hack the switch system of the bank.

However, thanks to the unidentified malware, nearly Rs 80 crore was withdrawn via 12,000 Visa card transactions and transferred outside the country, including to Hong Kong bank accounts, while Rs 2.5 crore from nearly 2,900 transactions was transferred to Indian bank accounts. There was also one SWIFT transaction worth Rs 13.92 crore.

The bank has shut down its servers and net banking facilities as a precautionary measure, and also lodged a case under the IT Act and relevant sections of the IPC.

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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