Servers of Andhra Pradesh Mahesh Co-op Urban Bank Limited in Hyderabad were hacked on Monday, city police’s cyber crime wing confirmed.
Police said fraudulent transactions worth nearly ₹ 12.5 crore were also carried out and the proceeds were transferred to several accounts outside the network.
According to the police, the incident was reported by bank officials at around 12 noon, reportedly after its systems vulnerabilities were compromised. It was suspected that the hackers targeted at least three of its branches in the city. The locations, however, were not disclosed.
Through swift action, police said it was able to freeze about ₹2.5 crore of the transferred funds.
Preliminarily, cyber officials suspect extraneous agents targeted the bank’s “weak security protocols”. A full investigation is underway.
