State Bank of Mauritius Nariman Point branch faces a loss of ₹143 crore due to cyber fraud

The State Bank of Mauritius’ Nariman Point branch had accordingly filed a complaint with Mumbai Police’s EOW. The investigation is going on and the bank is also conducting an internal probe to look if an insider had helped the fraudsters.

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The Nariman Point branch of State Bank of Mauritius claimed a ₹143 crore cyber fraud from its accounts. Last week, they had filed a complaint with the Mumbai Police Economic Offences Wing (EOW). As per the complaint filed on October 5, the fraudsters hacked the bank’s servers and accordingly, accessed the accounts and transferred the money to several accounts which were operated from out of India.

Nariman Point branch of the bank is situated on the 15th floor of Raheja Centre. One of the major concerns about the fraud is that this is the third incident of the kind in the last nine months. Earlier, one of City Bank’s branches in Chennai lost ₹34 crore during February whereas ₹94 crore were looted from the Cosmos Bank’s in August. 

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Later, seven people were arrested in regard to the Cosmos Bank scam. However, the police are still trying to find out through investigation whether these fraudsters were also involved in the Chennai fraud.

Meanwhile, an officer from the EOW stated that a First Information Report (FIR) has been therefore filed and the department is looking forward to the cyber experts for help in the investigation. He further added that they were uncertain about the nature of the cyber-attack and might be a malware attack. The officials are also looking if any insider has helped the fraudsters to commit the crime.

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