{"id":27930,"date":"2018-10-23T17:11:12","date_gmt":"2018-10-23T11:41:12","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=27930"},"modified":"2018-10-23T17:11:12","modified_gmt":"2018-10-23T11:41:12","slug":"cosmos-bank-fraud-due-to-malware-in-system-npci","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/cosmos-bank-fraud-due-to-malware-in-system-npci\/","title":{"rendered":"Cosmos Bank fraud due to malware in system: NPCI"},"content":{"rendered":"

Cosmos Bank fraud due to malware in system: NPCI<\/a><\/p>\n

News:<\/u><\/strong><\/p>\n

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  1. According to the National Payments Corporation of India (NPCI), the recent incident of cyber attack in Pune-based Cosmos Cooperative Bank is due to a malware attack on the bank\u2019s system.<\/li>\n<\/ol>\n

    Important facts:<\/u><\/p>\n

    2. Hackers transferred money through the malware attack on the bank\u2019s server by cloning debit cards of the bank\u2019s customers.<\/p>\n

    3. The transactions were carried through automated teller machines (ATMs) in 28 countries, including Canada, Hong Kong and India.<\/p>\n

    4. Visa and Rupay debit card were cloned.<\/p>\n

    5. On failure of banks to upgrade their software in ATMs despite repeated reminders, RBI has directed them to complete the process in a phased manner by June 2019.<\/p>\n

    6. The banking regulator pointed out that many ATMs were still running on Windows XP and other unsupported software.<\/p>\n

    7. According to banking industry sources, at least 30% of the 2.2 lakh ATMs across the country could still be running on old software.<\/p>\n

    8. Suggestions to address these incidence: <\/u><\/p>\n