A bank branch in Noida, Sector 62, fell victim to a major cyber attack, leading to the illegal transfer of approximately $19.9 million. The breach, which occurred between June 16 and 20, involved hackers gaining access to the bank’s Real-Time Gross Settlement (RTGS) system using stolen credentials from the bank manager. The unauthorized transactions went unnoticed until a balance sheet reconciliation at the end of June revealed the discrepancies.
The cybercriminals exploited the bank manager’s login details to manipulate the RTGS system and distribute the stolen funds across 89 different accounts. The incident prompted the formation of a special investigation team to trace the stolen money and identify those responsible. Authorities have assured that efforts are underway to recover the funds and make arrests.
In a related development, Noida Police arrested a gang involved in various fraudulent activities across multiple states. This gang, which had committed crimes including digital arrests, drug trafficking, and money laundering, was responsible for numerous complaints throughout India. Their arrest highlights the broader scope of cybercrime impacting different sectors.
The technique known as “digital arrest,” used by the gang, involved deceiving victims with AI-generated voices or videos posing as law enforcement. The gang operated primarily from Rajasthan and had connections to several states, emphasizing the widespread nature of their criminal activities. Ongoing investigations are aimed at addressing their extensive criminal network and notifying relevant authorities across affected regions.
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