Cosmos Bank hit by Rs 940 mn cyber hack; probe finds Hong Kong as source

The unidentified hackers had executed money transfers on two separate occasions -August 11 and August 13- which raises the question of why pro-active measures were not taken on the first night itself

Cybercriminals have stolen Rs 940 million from Cosmos Bank, after attacking the server at its headquarters in Pune on August 11 and 13. According to the FIR filed by the bank’s management at the Chatushrungi police station at 1 am on Tuesday, the hackers exploited malware vulnerability in its automated teller machine (ATM) switch system.

A senior officer of Pune cyber police said the money trail had taken them initially to an account of ALM Trading at Hang Seng Bank in Hong Kong. Preliminary investigations revealed that the money had been withdrawn from ATMs in 28 countries.

Cosmos