AP Mahesh Co-op Urban Bank server hacked

Nearly ₹12.5 crore were transferred out, say police

January 24, 2022 09:05 pm | Updated 09:05 pm IST - Hyderabad

Servers of Andhra Pradesh Mahesh Co-op Urban Bank Limited in Hyderabad were hacked on Monday, city police’s cyber crime wing confirmed.

Police said fraudulent transactions worth nearly ₹ 12.5 crore were also carried out and the proceeds were transferred to several accounts outside the network.

According to the police, the incident was reported by bank officials at around 12 noon, reportedly after its systems vulnerabilities were compromised. It was suspected that the hackers targeted at least three of its branches in the city. The locations, however, were not disclosed.

Through swift action, police said it was able to freeze about ₹2.5 crore of the transferred funds.

Preliminarily, cyber officials suspect extraneous agents targeted the bank’s “weak security protocols”. A full investigation is underway.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.