In a major cyber attack, hackers have stolen Rs 94 crore by hacking into the ATM switch server of the Cosmos Bank in Pune. The hackers stole details of multiple Visa and Rupay debit card owners.
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| Cyber criminals hacked into the bank's ATM switch server to siphon off money. |
The details were used to carry out around 12,000 transactions worth Rs 78 crore in 28 countries on August 11. Similarly in India, 2,841 transactions worth Rs 2.50 crore were carried out.
The attack did not stop here. On August 13, in another malware attack on the bank's server a SWIFT transaction was initiated and Rs 14.42 crore was transferred to the account of ALM Trading Limited in Hanseng Bank, Hong Kong
The total amount stolen is around Rs 94.42 crore and Cosmos Bank had to pay payment gateways such as Visa, Rupay and National Payments Corporation of India.
Milind Kale, chairman of Cosmos Bank said, "It was done from Canada; RBI and an income tax teams are investigating the matter."
On being asked about the failure of the bank's IT security system Kale said: "We are using the same system used by other major banks. Other than Pune police, foreign investigative agencies are also involved in the probe
The hackers wiped off Rs 94 crore from Pune's renowned Cosmos Bank. A case has been filed by Cosmos Bank with Pune police cyber cell for alleged malware attack on its server. DCP Jyoti Priya Singh, head of Pune police cyber cell confirmed the information.
Cosmos Bank is one of India's oldest co-operative banks.
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