Cyber thugs hack RTGS server of bank

Noida: Online fraudsters transferred more than Rs 16 crore into multiple bank accounts by hacking the server of Nainital bank situated in sector 62 of Noida, said police officials on Monday. According to police, the matter came to light when employees were matching the balance sheet and found that the tally didn’t match.

“The IT manager of bank Sumit Shrivastava lodged a complaint at the cybercrime police station after it was found that the fraudsters had targeted the bank’s Real Time Gross Settlement (RTGS) server during June 16-20. Over these five days, fraudulent transactions were made 89 times in multiple bank accounts. An FIR has been registered and we have launched an investigation. Bank accounts are being seized and their details are being fetched,” said Vivek Ranjan Rai, Assistant Commissioner of Police (ACP), Noida police CyberCell.

The ACP further said that the first transaction of 3.60 crores was made on June 17. The IT manager discovered a discrepancy amounting to 3 crore, 60 lakh, 94 thousand and 20 rupees in the balance sheet of their RTGS account on this date. The RTGS team conducted an audit alongside the Structured Financial Messaging System (SFMS) server and uncovered several flaws in both the core banking system.

Rs 16.50 crore was fraudulently transferred through RTGS between June 16 and June 20. The RBI initially suspected a system error but confirmed compromise later. Police and banks have requested frozen accounts, and complaints were lodged with RBI’s SSM, CSITE teams, and CERT-In.