Pune cyber cell arrests one more person in connection to Cosmos Bank fraud

Shaikh was produced before the judicial magistrate and has been remanded to police custody until March 28

Yet another arrest has been made by the cyber crime cell of the Pune police, in the Cosmos bank fraud case.

On August 14, 2018, Cosmos cooperative bank reported a malware attack on its online banking system, stating that Rs 94.42 crore had been siphoned through automated teller machines (ATMs) and online transfers, by unidentified hackers. (PICTURE FOR REPRESENTATIONAL PURPOSES ONLY)

The twelfth accused, identified as Mohammad Nadeem Akbar Ali Shaikh, 35, a resident of Wazirganj, Uttar Pradesh, was picked up on March 14 for his alleged connection with the Rs 94.42 crore online fraud involving Cosmos Co-operative Bank in Pune. Shaikh was produced before the judicial magistrate and has been remanded to police custody until March 28.

On August 14, 2018, Cosmos cooperative bank reported a malware attack on its online banking system, stating that ₹94.42 crore had been siphoned through automated teller machines (ATMs) and online transfers, by unidentified hackers. The state government deployed a special investigation team (SIT) headed by Jyotipriya Singh, deputy commissioner (economic offences wing and cyber cell) to probe the matter.

The police are currently on the lookout for Kunal Shukla, Abdul Bhai, Sumair Yusuf Shaikh, a resident of Dubai and Nasir Usmangani Ansari who have been named accused in the case. The arrested 11 are currently lodged in Yerwada jail.