Earlier this month, reports surfaced which suggested that Cosmos Bank, India’s oldest at 112 years old, had become the victim of a cyberattack which left the institution millions out of pocket.
The attack reportedly took place in two stages been August 10 – 13. According to the Hindustan Times, malware was used on the bank’s ATM server to steal the credit card information of customers, alongside SWIFT codes required for transactions.
The first wave involved the theft of roughly $11.5 million in transactions from multiple countries. In the second wave, on the same day, close to $2 million was withdrawn through debit card transactions across India.