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Rs 5.70 crore recovered in 2018 Cosmos Bank cyber fraud case

Rs 5.70 crore recovered in 2018 Cosmos Bank cyber fraud case
February 18
10:16 2020

PUNE: The cyber cell of the Pune police has managed to bring back Rs 5.70 crore from a Hong Kong-based bank in the Cosmos Bank cyber fraud case in which hackers allegedly siphoned over Rs 94 crore through a malware attack on the bank’s server in two days, an official said on Monday.

According to the police, the amount which has been brought back from the Hong Kong-based bank is a part of Rs 13.92 crore which wasfraudulently transferred by hackers using swift transaction but the amount was never allowed to be withdrawn and was frozen after the police alerted Cosmos Bank.

On August 11 and 13 in 2018, unidentified hackers had stolen information of the bank’s VISA and Rupay card customers through malware, attacked SWIFT system and siphoned off Rs 94 crore. The hackers had attacked the banks’ ATM switch server and withdrew a total Rs 78 crore from various ATMs in 28 countries and another Rs 2.5 crore was taken out within India.

In another attack on August 13, hackers again fraudulently transferred Rs 13.92 crore in a Hong Kong-based bank using the proxy SWIFT system. “Out of this Rs 13.93, we have managed to bring back Rs 5.72 crore and the further process to bring the remaining amount is going on,” said a senior official from the cyber cell.

As far as the investigation in the case is concerned, so far over 15 people have been arrested and some amount has been recovered, he added. PTI

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