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Hackers transfer Rs 94 crore from Pune’s Cosmos Bank

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Pune, Aug 14 : Suspected hackers siphoned off Rs 94.42 crore from the Cosmos Cooperative Bank Ltd — the second oldest and second biggest cooperative bank in India — to various foreign and domestic bank accounts, police said on Tuesday.

The bank was cyber-attacked twice, on Saturday and on Monday, according to an FIR lodged by an official of Cosmos Bank with Chaturshringi Police Station.

The complaint said the first attack took place on August 11 between 3 p.m. and 10 p.m. and on August 13 around 11.30 a.m., affecting its headquarters on Ganeshkhind Road.

A police officer said that during those hours, some unknown persons hacked into the ATM Switch (servers) at the headquarters and acquired the sensitive data of its Visa and RuPay debit card customers.

As per tentative estimates, the hackers siphoned off Rs 78 crore by 12,000 Visa card transactions and transferred it out of the country, including bank accounts in Hong Kong.

Another amount of Rs 2.50 crore from 2,849 transactions was transferred within India, details of which were being investigated, said the police.

Before the bank could react, in a fresh attack on Monday (August 13), the hackers initiated SWIFT transactions and transferred Rs 13.92 crore to the accounts of a company, ALM Trading Ltd, with Hang Seng Bank, Hong Kong. The amounts were soon withdrawn from that bank.

Established in 1906, the Pune-headquartered Cosmos Bank is the second oldest and se

India

VVIP Chopper case: Delhi Court extends 5-day remand of Michel

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New Delhi, Dec 10 :As Delhi court on Monday extended by another five days the CBI custody of British national Christian Michel, the middleman accused in the Rs 3,600-crore AgustaWestland VVIP chopper deal, Michel’s counsel Anjos said she would be visiting India in the coming days.

Anjos from Milan said that the Indian court has permitted to meet Michel once she is present in the court on the next date of hearing.

Special Judge Arvind Kumar allowed the Central Bureau of Investigation (CBI) to quiz the middleman till December 15. The CBI had sought nine days custody of Michel.

Special Public Prosecutor D.P. Singh told the court that documents have been received from five countries pursuant to the Letter of Rogatory sent to these countries and there was incriminating material which the CBI needed to confront him with.

The prosecutor added that the agency needed to confront him with some witnesses to identify his accomplices including IAF officers, bureaucrats and politicians.

Michel was presented in the court after a five-day CBI custody. He was extradited to India on December 4 from the United Arab Emirates (UAE).

Michel’s defence counsel Aljo K. Joseph and Vishnu Sankar opposed the CBI plea and said there was no incriminating material against the accused and that the Italian court had found nothing wrong against him.

The counsel also told the court that his lawyer in Italy, Santrolli Rosemary Patrizi Dos Anjos, wanted to meet him.

 

The CBI also filed an application seeking direction to Michel for giving his specimen signatures. This will be heard by the court on Tuesday.

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Urijit Patel’s “forced” exit blot on India’s banking system: Ahmed Patel

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Ahmed Patel
Ahmed Patel , File Photo

New Delhi, Dec 10: Senior Congress leader Ahmed Patel on Monday said that the forced exit of RBI governor Urjit Patel is a blot on India’s monetary and banking system.

“The manner in which RBI governor has been forced to quit is a blot on India’s monetary & banking system. BJP Govt has unleashed a defacto financial emergency. The country’s reputation&credibility is now at stake”, the Congress leader tweeted.

“Every institution carefully built & nurtured over the last 70 years is being trampled upon with complete impunity”, he said in another tweet.

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London’s Westminster Court orders extradition of Vijay Mallya to India

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Vijay Mallya

London, Dec 10: London’s Westminster Magistrates Court on Monday ordered the extradition of fugitive liquor baron Vijay Mallya to India.

Chief Magistrate Judge Emma Arbuthnot has found prima facie a case against Mallya for fraud, conspiracy and money laundering.

The matter of extradition of Vijay Mallya to India has been referred to the Secretary of State.

The Central Bureau of Investigation welcomed the UK court orders.

Reacting to the verdict, the CBI spokesperson said that “We hope to bring him soon and conclude the case. CBI has its own inherent strengths. We worked hard on this case. We are strong on Law and facts and we were confident while pursuing extradition process”.

The Court announced the verdict following a prolonged litigation involving Mallya, who fled India in March 2016.

The development took place came six days after British national and alleged middleman in the AgustaWestland VVIP chopper deal, Christian Michael, was extradited to India from Dubai.

Mallya has repeatedly denied fleeing from India and said he was ready to pay back the money he owed to Indian banks.

Proceedings are on in the Mumbai Special Court against the businessman under the Fugitive Economic Offenders Act.

Last year, India filed extradition proceedings against Mallya which he has contested. He is currently on bail in London.

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