City police initiate probe to track down a cybercriminal who swindled a bank by hacking into its network

The South division cybercrime police have initiated a probe to track down a cybercriminal who hacked the bank’s Local Area Network (LAN) and stole ₹21.5 lakh through multiple transactions.

The crime committed between February to March last year, came to light only when a new manager audited the accounts and found fraudulent transactions. The complainant Arif Ahmed Syed, manager with the Bank of Maharastra checked with his predecessor Hema Sundar Rao before approaching the police to confirm they were fraudulent transactions.

In his complaint, Mr. Syed said that the accused has stolen the confidential password, which only bank officials had access to and hacked into the system by connecting to the manager laptop through the LAN. The accused then manipulated the bank’s central switch to disconnect the ATM switch and transfer the money through multiple transactions using two debit cards.