India’s AP Mahesh Cooperative Bank had been reportedly attacked by unknown threat actors that stole more than Rs 12 crore and transferred it to various bank accounts. The hackers used malicious bank accounts that are allegedly located all over Telangana and other Indian states.
As soon as the affected banks in Telangana state had confirmed being attacked, they immediately filed a report to the Hyderabad authorities, quickly launching an investigation.
Based on the police investigation, it was revealed that the unknown threat actors have hacked into the AP Mahesh Cooperative Bank’s servers that allowed them to log in to the firm’s main accounts. Additionally, over 100 individual bank accounts were detected to receive the stolen funds from the bank.
During a regular internal verification, the AP Mahesh Cooperative Bank had spotted the attack.
Aside from probing the incident, the local authorities have also investigated the bank’s cybersecurity to identify its status concerning cyberattacks.
According to the bank’s official, appropriate measures have already been initiated to secure the stolen funds, and the bank accounts that received the money have already been flagged. They also assured that their bank and its funds have long been insured against any form of cyberattacks.
Headquartered in Hyderabad, India, AP Mahesh Cooperative Bank has 45 total branches across four Indian states. This incident is also said to be the first-ever bank targeted by fraudsters in the city of Hyderabad.
Based on studies, India is the 21st among many other countries worldwide targeted by cyberattacks. Furthermore, a report from the Indian Chamber of Commerce and Industry has stated that between 2011 to 2014, India has reached a 350% upsurge of rating in registered cybercrime cases.
Since today’s generation revolves around the digital age, it is also important to ensure our safety against cybercrime threats. Everyone must be aware of how dangerous these threats are, not just with our finances but with our overall welfare and security.
As for India, experts strongly advise the country to take further steps in preventing similar cyberattack incidents, such as hacking and fraud, from happening again in the future.
