Massive Cyber Heist Hits Noida Bank: Rs 16.5 Crore Vanishes In 5 Days

The Noida branch of Nainital Bank experienced a mahor cyber heist, with cybercriminals managing to siphon off over Rs 16.5 crore by hacking the bank’s servers within just five days. Reports indicate that the hackers breached the bank’s Real Time Gross Settlement (RTGS) system by obtaining the manager’s login credentials, and transferred the funds to 89 different accounts between June 16 and June 20.

In response to the incident, the bank’s IT manager, Sumit Kumar Srivastava, lodged a complaint with the cyber crime police station in Noida.

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Srivastava’s complaint revealed that the fraud was detected when the balance sheet for June was being prepared. On June 17, a shortfall of Rs 3,60,94,020 was discovered during a routine audit of the RTGS system, and it became apparent that the balance sheet discrepancies could not be reconciled over several days.

“A case has been registered by the IT manager of the Nainital Bank. He said that about Rs 16.5 crore was withdrawn by hacking the manager’s credentials and the bank’s server. This happened between June 16 and June 20,” a senior police official stated, adding that the funds were transferred to 89 various bank accounts. A senior police team has been assembled to investigate the cyber fraud incident.

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