Another accused held in Cosmos Bank case

ST CORRESPONDENT
Tuesday, 19 March 2019

The officials from the Cyber Crime Cell (CCC) of Pune city police have arrested the 12th accused in the Cosmos Bank’s Rs 100 crore cyber heist case. 

Pune: The officials from the Cyber Crime Cell (CCC) of Pune city police have arrested the 12th accused in the Cosmos Bank’s Rs 100 crore cyber heist case. 

The officials have also claimed to have identified four major accused persons in the case. Some of them are located outside the country. 

The arrested accused has been identified as Mohammed Nadeem Akbar Ali Shaikh (35), a resident of Gonda in Uttar Pradesh. Like the previous 11 arrested accused, Shaikh had also withdrawn money using cloned ATM card. A magistrate court on Monday remanded him to police custody. 

The other accused are in Yerwada jail. Police officials said that Rs three lakh was withdrawn from ATMs in Tardeo area in Mumbai. 

Last year, on August 11, there was malware attack on the bank’s Debit Card Payment System. It was observed that unusual repeated transactions were taking place through ATM Visa and Rupay Card for nearly about two hours. As soon as the suspicious transactions were reported, the Bank immediately shut down its Visa and Rupay Debit Card Payment System. The Core Banking System (CBS) of the Bank receives Debit Card payment requests via ‘Switching System’. During the malware attack, a proxy switch was created and all the fraudulent payment approvals were passed by the proxy switching system. 

Approximately, Rs 78 crore were withdrawn through various ATMs located in 28 countries including around 12,000 Visa card transactions. In the same way, approximately Rs 2.50 crore was withdrawn through 2,800 debit card transactions in India at various locations. Further, on August 13,  Rs 13.5 crore was 
transferred to a Hong Kong-based entity using the SWIFT facility.

In December last year, the Special Investigation Team (SIT) probing the case had filed a charge sheet against other accused persons. 

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