Hackers Loot Rs 94 Crore, on Two Separate Days, From Cosmos Bank in Pune, India

[Aug 14, 2018]

The server of main branch of Cosmos bank located at Pune, has been hacked and transactions worth Rs 94.42 crore have been carried out in Hong Kong and India.

The server was hacked on August 11 and around 78 crore was transferred out of the country in various transactions. A transaction of Rs 2.5 crore was done in India through National Payments Corporation of India (NCPI) and VISA.

On August 13, the server was hacked again and RS 14 crore were transferred through Swift transaction to the account of ALM trading limited at Hang Seng bank in Hong Kong.

A complaint has been registered against ALM trading limited and unknown persons in Pune.

Cyber Security Tips: (For Banks)

  • Sanitize all incoming emails
  • Use Active Content Disarm based security
  • Invest in long-term solutions of cyber Security
  • Explore advanced authentication techniques
  • Properly train your employees about cyber Security Measures
  • Limit data access to only those that need it
  • Be sure to use a combination of security measures
  • Make sure to check updates and news regarding hardware
  • Deploy the latest technology to defend against the latest threats
  • Conduct Periodic Security Audit of VAPT (Vulnerability Assessment & Penetration Testing) of whole IT Network system.

 

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