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SBM (India) recovers 90% of the money siphoned in cyber-attack


SBM (India) recovers 90% of the money siphoned in cyber-attack

SBM (India) officials have claimed that it has recovered around 90 per cent of the total amount Rs 143 crore (1, 4 billion indian rupees) which was siphoned off in a major cyber-attack which took place ten days back.

giving an official statement, a spokesperson of the SBM said, “Based on
productive and prompt measures, we have managed to recover most of the amount
which was lost post the cyberattack. This loss will get further reduced after
claiming the insurance and to prevent further damages, necessary measures have
been initiated. We are working with relevant authorities to get to the root of
the matter and we would also like to assure that no customer account has been
impacted and no relevant and crucial data of the bank account holders have been

attacks are a concern to every bank across the globe and as a bank is is our
endeavour to ensure system updates on a regular basis.” the official

On October 05, the banks Nariman Point branch had filed a police complaint with
Economic Offences Wing and later cyber crime officers to began investigation of
the case in a rigorous manner.

bank after the attack had traced some suspicious unknown transactions and based
on them, the bank got in touch with other authorities and managed to freeze those
accounts and so the recovery was made on immediate basis.

the Cosmos bank in Pune faced the wrath of cyber attack recently, this is the
second major cyberattack in Maharashtra.

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