Adversaries Duped Cosmos Bank Customers of ₹94 Crores in a Cyber Fraud Case.

cosmos bank customers

A few years ago, in 2018, you all might have heard about Cosmos Bank Malware Attack Case, which duped more than ₹94 crores in India. However, at that moment, the case couldn’t reach any verdict, which at some point saddened the banking firm’s people and clients.


According to the Police.

Now the case has taken a positive turn, and 11 criminals involved in online money swindle have been caught. In view of the heinous nature of the crime, the criminals have been given the strictest punishment keeping in view all the provisions under the law. Some of the names of the people involved in the arrested criminals are as follows.

The convicted individuals include

  1. Fahim Shaikh,
  2. Mohammad Saeed Iqbal Hussain Jafari,
  3. Fahim Khan,
  4. Shaikh Mohammed Abdul Jabbar,
  5. Mahesh Rathod,
  6. Naresh Maharana,
  7. U A Waz Alias Anthony,
  8. Bashir Ahmed,
  9. Feroz Shaikh,
  10. Abdulla Shaikh, and
  11. Salman Baig.

In the cyber attack history of India, the Cosmos Bank Cyber Fraud Case was one of the biggest cyber attacks on an Indian Bank at that moment. Moreover, it involved several cloned debit cards that were used for thousands of ATM Online Transactions from India and 28 other nations in 2018.

cosmos bank customers

The adversaries withdrew a huge amount of money, around ₹78 crores, in more than 12,000 ATM Online Transactions outside India. Moreover, they also transferred another 2,800 transactions of the amount ₹2.5 Crores in various other parts of the country.

Additionally, more than ₹13.92 Crores were transferred to a Hong Kong-based person on Aug 13, 2018. It was transferred via the Society for Worldwide Interbank Financial Telecommunication Facility, aka SWIFT.

Cosmos Bank Customers

According to the Police

All of the convicted people were involved in withdrawing money from various ATMs using cloned cards of Cosmos Bank as the executors ordered them. It was suspected that fraudsters must have offered some commission money to bribe the perpetrators for doing the unethical work.

Moreover, after the conviction of 11 of them, it is hoped that the law may pay them with rightful judgment. All of them are set for jail time of 4 Years and 7 months. We wish that the planning of attacks may stop at the most.

For more amazing facts & information like this, you can follow us on News4Hackers. Leave a comment if you have any queries.

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