Pune Cyber Crime | Cyber Heist Hits Bharti Sahakari Bank, Rs 1 Crore Stolen Through Cloned Cards

Pune: Pune Cyber Crime |  In a startling revelation, Bharti Sahakari Bank fell victim to a cyber attack that bears similarities to the infamous Cosmos Bank incident. The cyber criminals managed to clone 439 ATM debit cards, leading to an unauthorized withdrawal of a whopping Rs. 1 crore 8 lakh 15 thousand 700 through 1,247 transactions. What is even more concerning is that this security breach occurred almost three years ago, and the bank remained oblivious to the crime.

The incident came to light after Bharti Sahakari Bank’s Managing Director, Sarjeram Jagannath Patil, filed a complaint (G. Reg. No. 168/23) with the Vishrambag Police Station. The cyber attack took place between 17th December 2020 and 1st January 2021 at various Bharti Bank ATMs across the state.

The cyber criminals reportedly took advantage of a delay in installing ATM chip technology during the peak of the pandemic. It is suspected that they had prior knowledge of this vulnerability and meticulously executed the crime. By cloning 439 debit cards from another bank, the attackers successfully targeted Bharti Sahakari Bank’s ATMs in locations like Akurdi, Dhairi, Dhankawadi, Sangli, Navi Mumbai, Solapur, Kolhapur, Malkapur, Delhi, Islampur, Kothrud, Worli, Baner, and Hadapsar.

Police investigations have revealed that the bank’s internal security system and the cloned card issuer failed to detect these unauthorized transactions. The fraudulent activities went unnoticed until a recent audit brought them to light.

The incident raises serious concerns about cyber security in the banking sector and highlights the urgency for stronger safeguards against such attacks. With the increasing reliance on digital banking and electronic transactions, banks must stay one step ahead of cyber criminals to protect the interests of their customers.

Law enforcement authorities, including Police sub-inspector Barure, are actively investigating the case to apprehend the perpetrators behind this brazen cyber heist.

Pune Crime News | Labourer falls to death at construction site in Warje Malwadi

Pune Cyber Crime | Facebook Messenger of PI hacked and his cousin cheated