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Hackers rob Cosmos Bank, make off with $13.5m
- Wednesday | 15th August, 2018
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. In 2016, unknown hackers stole more than $81 million from the Bangladesh central bank’s account with the Federal Reserve Bank Of New York. “During the malware attack, a proxy switch was created and all the fraudulent payment approvals were passed by the proxy switching system,” the bank said. 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. 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.
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