Last month hackers were able to hack Cosmos Bank in Pune using various ATMs in over 24 countries and were successful in stealing around Rs 80 crore in the second week of August. In yet another incident which took place in the month of December last year, four people have been arrested and have confessed of being involved in the cyber fraud at Chennai’s City Union Bank.
On further investigation, the authorities have found similarities in the way the crimes have been carried out. Both the cases involved cybercriminals cloning debit cards and Rupay cards to withdraw money. Apart from this the accused named Fahim Azim Khan, Shaikh Mohammad Abdul Jabbar, Yustace Augustine Vaz (alias Anthony) and Naresh Maharana have confessed to their involvement in more bank robberies carried out in a similar fashion.
Details Of How The Crime Was Committed?
In a press release by PTI, disclosed the details of how the Cosmos Bank heist was executed. The hackers managed to steal information about the banks various VISA and RuPay card customers through a malware which comprised the SWIFT (Interbank Messaging System) system on August 11 and August 13 respectively.
Further, the police revealed the hackers attacked the banks ATM switch server and were able to withdraw Rs 78 crores from various ATMs in 28 countries and another sum of Rs 2.5 crore was withdrawn from India. Along with this they also managed to fraudulently transfer Rs 13.92 crore in a Hong Kong-based bank using the proxy SWIFT system.
The hackers were successful in withdrawing a total sum of over Rs.94 crores
Now with the arrest of the criminals in two cases registered in Chennai related to the City Union Bank heist, police have discovered links to the Cosmos bank robbery.
While talking to PTI, Jyotipriya Singh, Pune Police DCP (Cyber and economic offenses wing) said – “Two cases are registered in Chennai. One is for international transactions and another for domestic ones. After we made arrests in the Cosmos case, [the] Chennai police shared CCTV footage of some ATMs in that case [City Union Bank],”
Jyotipriya Singh further added – “We found that four of the seven accused are seen in some of the ATM footage from Chennai.”
Police have arrested seven people related to the Cosmos bank robbery. The thieves had managed to clone cards and interbank SWIFT transactions to steal from City Union Bank. But finally, their faith is sealed and are behind bars.