- Hackers exploited a vulnerability in the RTGS/NEFT system, altering account numbers and IFSC codes in XML files.
- This led to the diversion of funds to 25 accounts located in northern states.
- Cyber criminals managed to steal Rs 2.34 crore from a cooperative bank in Vijayanagara, Karnataka.
- The theft was uncovered when several branches of the Ballari District Co-operative Central (BDCC) Bank, which serves the twin districts of Vijayanagara and Ballari, reported that customers were not receiving their credited funds.
- According to police reports, the criminals targeted the bank’s RTGS/NEFT transaction system.
Hackers exploited a vulnerability in the RTGS/NEFT system, altering account numbers and IFSC codes in XML files. This led to the diversion of funds to 25 accounts located in northern states. Cyber criminals managed to steal Rs 2.34 crore from a cooperative bank in Vijayanagara, Karnataka. The theft was uncovered when several branches of the Ballari District Co-operative Central (BDCC) Bank, which serves the twin districts of Vijayanagara and Ballari, reported that customers were not receiving their credited funds.
According to police reports, the criminals targeted the bank’s RTGS/NEFT transaction system.
Initial investigations indicate that the hackers successfully modified account numbers and IFSC codes in the XML files during a routine fund transfer from BDCC Bank to IDBI Bank on January 10, 2025.
Although the beneficiary names remained the same, the funds were instead credited to 25 different accounts across various northern states of India.
The breach was discovered on January 13, 2025, when multiple branches reported that online transfers made since January 10 had not been credited to customers’ accounts.
An internal investigation by the bank found that transactions exceeding Rs 5 lakh were redirected to these other accounts.
In response, the bank promptly suspended its RTGS/NEFT services and lodged a complaint at the Hosapete Town Police Station, which has since referred the case to the Ballari CEN (Cyber Economic Narcotics) Police Station.
The police have filed an FIR under relevant sections of the Information Technology Act and the Bharat Nyay Samhita, addressing issues of cheating and fraud involving computer systems.