In the Cosmos Bank cyber fraud case, where hackers syphoned off more than Rs 94 crore over the course of two days in 2018, police said on Sunday that a court in Maharashtra’s Pune had found 11 people guilty. An official reported that the judicial magistrate (first class) sentenced nine of the defendants to four years in prison and two more to three years, as well as fining them, on Saturday. According to him, the charges against the accused were upheld by the relevant sections of the Indian Penal Code and Information Technology Act. In connection with the fraud that was carried out over the course of two days in August 2018, at least 18 people, the majority of whom were mules, were detained from various parts of the nation. According to the case information, on August 11 and 13, 2018, hackers used malware to steal customer data from Cosmos Bank’s VISA and Rupay card holders, then they attacked the SWIFT system and stole more than Rs 94 crore. The hackers broke into the banks’ ATM switch server and stole 78 crore rupees from different ATMs in 28 different countries, in addition to another 2.5 crore rupees from Indian ATMs. On August 13, hackers used the proxy SWIFT system to fraudulently transfer Rs 13.92 crore to a bank in Hong Kong. According to the report, the police recovered Rs 5.72 crore out of a total of Rs 13.92 crore.
Post Your Comments