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Cosmos bank cyber fraud: Seven countries to give special investigation team “all possible help” in probe
On August 14, Cosmos cooperative bank reported a malware attack on its online banking system stating that unidentified hackers siphoned ₹94.42 crore through ATMs and online transfers. After a few days, the Maharashtra government constituted a SIT headed by deputy commissioner (economic offences wing and cyber cell) Jyotipriya Singh to probe the cyber robbery.
Seven countries (which includes Turkey, Bulgaria, Japan and United Kingdom) have assured the special investigation team (SIT), probing the ₹94 crore online theft at Cosmos bank headquartered in Pune, of all “possible help”.
On August 14, Cosmos cooperative bank reported a malware attack on its online banking system stating that unidentified hackers siphoned ₹94.42 crore through ATMs and online transfers. After a few days, the Maharashtra government constituted a SIT headed by deputy commissioner (economic offences wing and cyber cell) Jyotipriya Singh to probe the cyber robbery.
The SIT in September, through Indian consulates, had approached 28 nations seeking help to nab perpetrators of the online theft after international links emerged during the investigations.
“As of now countries like Turkey, Bulgaria, Japan and United Kingdom have responded positively. This will help us move forward in this case. At the same time, we are awaiting responses from other 21 countries," said Singh, who also refused to give out more details on the international links and countries involved, to the media as it had earlier led to an information leak in the case.
Singh further stated that banks from France, Hong Kong and Latvian countries have said that they, too, will provide assistance to the Pune police's cyber cell to investigate the case.
Efforts are now on to nab the international gangs involved in the case, said Singh. She further added that Pune police's cyber cell is working in correspondence with the Interpol.
Seven arrested have been made in the case so far. The SIT suspects that the online theft was committed by hackers based in multiple places internationally. According to officials, during the malware attack, a proxy switch was created and all payment approvals were passed by the proxy switching system. In the first attack on August 11, using stolen card details, approximately ₹78 crore was withdrawn in transactions in 28 countries. This included around 12,000 Visa card transactions. On the same day, approximately, ₹2.5 crore was withdrawn through 2,800 debit card transactions in India at various locations.
The SIT has, so far, recovered about ₹6 lakh from genuine bank customers referred to as “accidental beneficiaries” of the cyber attack as they also received additional sums in their account during the online attack.
