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India’s Cosmos Bank loses $13.5 mln in cyber attack

Cyber thieves stole $13.5 million by using malware to withdraw cash in 14,849 transactions in 28 countries, all within 2 hours. The malware attack redirected payments to a proxy switching system responsible for processing payment requests. This proxy approved the fraudulent requests. Police are pursuing the matter, but with little ability to track and identify suspects across so many countries. 

Source: India’s Cosmos Bank loses $13.5 mln in cyber attack | Reuters

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