Cosmos bank news
Pune: cosmos bank duped of rs 94 crore through malware
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Cosmos Co-operative Bank Ltd. (Cosmos Bank) is one of India’s oldest urban co-operative banks, having been established in 1906. On January 18, 2006, Cosmos Bank turned 100 years old. It was one of the first co-operative banks in the country to use Finacle-Infosys Core Banking Software to incorporate Core Banking System (CBS) across its entire network of 140 service outlets. The Reserve Bank of India also granted it an approved dealer (AD) license, making it the third co-operative bank in India to do so in the last thirty years.
Krishnaji Sadashiv Gore and Shankar Hari Barve established this bank on January 18, 1906 in Pune. Sahitya Samrat N.C. Kelkar alias Tatyasaheb Kelkar was the first Chairman of the Cosmos Bank. Cosmos Bank was granted Scheduled status on December 1, 1990, and within seven years, on November 28, 1997, it was granted ‘Multi-State’ status. Via its 140 branches, the Cosmos Bank operates in seven Indian states: Maharashtra, Gujarat, Madhya Pradesh, Karnataka, Andhra Pradesh, Telangana, and Tamil Nadu. More than 2 million customers and 79,000 shareholders are served by the bank. [requires citation]
Pune cosmos bank’s cyber hacked | steal rs 94 crore
On August 11, 2018, several cloned debit cards from Cosmos Bank were used for thousands of ATM transactions from India and 28 other countries in one of the largest cyber attacks on an Indian bank.
Interpol has released a red corner notice against a key suspect in the suspected Rs 94-crore malware attack on Pune-based Cosmos Cooperative Bank. According to police, one of the main suspects in the case has been located in a foreign country.
“Once the suspect was identified and there was reliable information about his location in a foreign country, we sought a non-bailable warrant against him,” said Deputy Commissioner of Police (Cyber and Economic Offences Wing) Sambhaji Kadam. Following that, a request for a red corner notice was processed through nodal agencies, including Maharashtra’s CID (Criminal Investigation Department) and India’s CBI (Central Bureau of Investigation). On August 18, a red corner notice was released against the suspect after Interpol checked the request.”
Hackers steal rs 94 crore in 2 days from pune’s cosmos bank
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Cosmos bank hacked, 94 crores transferred abroad | cyber
The ATM heist at a Pune-based co-operative bank made headlines in the second week of August. Hackers attacked Cosmos Bank, a 112-year-old co-operative sector bank based in Pune, with the aim of transferring over INR. 94 crore ($13.6 million) to foreign bank accounts. On the 11th of August, 2018, approximately 80% of the $13.6 million was withdrawn ($11 million). Between 3 p.m. and 10 p.m. on August 11, 2018, more than 12,000 ATM transactions were registered in 28 countries.
The Society for Worldwide Interbank Telecommunications (SWIFT) facility was used to move INR 13.5 crore to a Hong Kong-based entity on August 13, 2018. Examining the Cosmos Bank SWIFT Attack from a Forensic Perspective
This may be the work of Lazarus, North Korea’s most prolific hacking community that has carried out some audacious attacks around the world, according to reports in one of India’s news papers, which cite some cyber experts.
This hacker collective is regarded as one of the most active in the world. This party was behind the attack on Sony Pictures in 2014, which the US publicly blamed on North Korea. They were also responsible for the 2017 Wannacry assault. Lazarus and its offshoots have been blamed for various financial institution attacks. Their subgroup Bluenoroff is dedicated to targeting international financial institutions. They are the perpetrators of a wide range of financial crimes.