Back to Blog

Cosmos Bank loses $13.5 million in cyber attack

August 15, 2018

By: Rajendra Jadhav

MUMBAI (Reuters) – Cyber criminals hacked the systems of India’s Cosmos Bank and siphoned off nearly 944 million rupees ($13.5 million) through simultaneous withdrawals across 28 countries over the weekend, the bank has told police.

The co-operative bank said unidentified hackers stole customer information through a malware attack on its automated teller machine (ATM) server, withdrawing 805 million rupees in 14,849 transactions in just over two hours on Aug. 11, mainly overseas.

Apart from the ATM withdrawals, the hackers transferred 139 million rupees to a Hong Kong-based company’s account by issuing three unauthorised transactions over the SWIFT global payments network, the bank said in a police complaint, a copy of which was seen by Reuters.

SWIFT, whose messaging system is used to transfer trillions of dollars a day, said it did not comment on individual cases.

Cosmos Bank, based in the western city of Pune, said in a press statement that its main banking software receives debit card payment requests via a “switching system” but it was bypassed in the attack.

More: https://in.reuters.com/article/cyber-heist-india/cosmos-bank-loses-13-5-million-in-cyber-attack-idINKBN1KZ1J9

Contact us

Safety is essential to your decision making. We are sure that our team can clarify any doubts. After all, we understand security.

contact@sikur.com

Follow us

Try SIKUR





Contact Us
First Name*
Last Name*
E-mail*
Mobile Number*
Company*
Country*
Tell us what do you need* ?
Products: Hold CTRL+Click to add more than 1.* ?
Comments
I agree to the Privacy Policy and Terms of Service.