The arrest of 23 people for swindling Rs.12.48 crore from AP Mahesh Co-Operative Urban Bank Ltd has brought forth the elaborate mechanism used for the fraud — from 200 phishing emails, to transfer of money from four bank accounts to 115, followed by withdrawals at 938 ATM kiosks. CV Anand, police commissioner, Hyderabad city, said, “On January 23, the server …
In view of increasing incidents of Man in the Middle attacks on ATMs, all banks have been asked to enhance their safety norms for ATMs through end-to-end encryption in the network, officials said. Investigations by security agencies have found that cyber fraud gangs have started adopting a new modus operandi to withdraw money from ATMs, a security official aware of …
