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Malware attack: Hong Kong bank returns Rs 5 crore to Cosmos Bank
PUNE: A bank in Hong Kong on Monday returned part of the money lost by Cosmos Bank in India in the August 2018 malware attack that cost the bank Rs 94,42,00,000.
PUNE: A bank in Hong Kong on Monday returned part of the money lost by Cosmos Bank in India in the August 2018 malware attack that cost the bank Rs 94,42,00,000.
“Rs 5.73 crore was returned to Cosmos Bank from Hong Kong in the cyber malware attack case,” said Sambhaji Kadam, deputy commissioner of police, cyber crime and Economic Offences Wing (EOW), Pune.
The money was returned by Hang Seng Bank in Hong Kong on Monday. The bank returned a total of Rs 5,72,95,870 ($801,283.650), according to Pune police.
The accused had transferred Rs 13,92,00,000 from Cosmos Bank to Hang Seng Bank account in the name of ALM Trading Limited using swift code generated by the bank. The transaction took place at 11:30am on August 13, 2018, two days after 14,849 transactions involving cards had cost the bank Rs 80,50,00,000. Therefore, the total online cheating was worth Rs 94,42,00,000.
A case under Sections 120(b), 420, 467,468,471 and 34 of Indian Penal Code along with Sections 43(a)(b)(c)(e)(g)(i), 65, 66, 66(c), 66(d), 84(b), and 85 was registered at Chatuhshrungi police station. The case was later transferred to cyber police station. The cyber crime police wrote to the police authorities in Hong Kong. As the Hong Kong police department was of little help, the police advised the bank officials to file a civil suit against the Hang Seng Bank. The case continued and the foreign bank deposited Rs 5,72,95,870 as the first instalment of the repayment.
The police have arrested 18 people in the case that is still under investigation.
In an overnight attack on August 11, 2018, the Cosmos Bank had lost Rs 80,50,00,000 through 14,849 card transactions involving Visa and Rupay cards. The second attack was on August 13, 2018, when a transaction involving a swift code cost the bank over Rs 13,00,00,000.
