Hackers Hacked State Bank of Mauritius, Withdraw Rs 19 Crore From Mumbai Branch

Hackers hacked down State Bank of Mauritius for Rs 9 Crore – SBM reported that Rs 9 crore were hacked from one of their branch from Mumbai and transfer to Hongkong based bank in the name of Singapore Company. Earlier, same bank was defrauded of nearly Rs 143 crore. State Bank of Mauritius India which is a subsidiary of SBM Holdings, has presence in Mumbai, Chennai, Hyderabad and Ramachandrapuram.

According to an ET report, unknown hackers have allegedly withdrawn Rs 19 crore from the Mumbai branch of the State Bank of Mauritius (SBM) following which the bank has filed a complaint with Singapore police. SBM has reported and complaint to Singapore police. 

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Mode of Hacking :

State Bank of Mauritius had lost nearly Rs 19 crore from October 2, 2018, when banks’ SWIFT payment gateway had been allegedly hacked in a possible attempt to transfer Rs 147 crore while attempt was stopped after a London bank got suspicious when multiple remittance requests were raised within the span of a few hours on an Indian bank holiday.

The hack at SBM’s Nariman Point branch was stopped after a London bank got suspicious when multiple remittance requests were raised within the span of a few hours on an Indian bank holiday. The requests exceeded the amount typically raised on a single working day and that prompted the London bank to immediately raise a query with SBM, after which the process was stopped.

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The bank found that the email requests to release the amounts were sent from an email ID similar to the one used by the in-charge of SWIFT transactions at its Nariman Point branch. The bank managed to stop most of the transactions.