Pune: Hackers bugged e-banking facility, broke security code

[InfoSec News <alerts () infosecnews org>]

http://timesofindia.indiatimes.com/articleshow/72391600.cms

The Times of India
December 5, 2019

PUNE: The prominent jewellery firm, whose 12 bank accounts were hacked in 
November this year, used to operate the accounts with the help of the bank 
app. Police said the fraudsters siphoned off the money by hacking the app 
and changing the password.

“The security of these 12 accounts was compromised by the hackers. They 
bugged the e-banking facility and broke the security codes. The fraudsters 
then transferred the money to different bank accounts,” Jayram Paygude, 
senior police inspector, cybercrime police station, told TOI

Paygude said that the bank accounts where Rs 2.98 crore was transferred by 
way of 20 transactions are located within India. “Prima facie, it is 
suspected that the accounts were opened by the suspects using fake names 
and addresses,” he said.

He said that a team of experts is studying how the security application 
and bank account’s security was compromised.

[...]

--
Subscribe to InfoSec News
https://www.infosecnews.org/subscribe-to-infosec-news/
https://twitter.com/infosecnews_