Eleven Convicted In India’s Biggest #Cyberattack On Cosmos Bank
Maharashtra’s Pune district court has convicted 11 people in the Cosmos Bank cyber fraud case, in which hackers siphoned off more than ₹ 94 crores (2,041,126.53$) through a malware invasion over two days in 2018, A police officer says.
The judicial magistrate (first class) on Saturday convicted nine of the accused to four years confinement and two others to three years and levied a fine on them, says the official.
Furthermore, The accused were sentenced to charges under relevant requirements of the Indian Penal Code and the Information Technology Act
At least 18 persons were apprehended from various parts of the country in connection with the fraud that was conducted over two days in August 2018.
As per the case details, the cyber hacker stole data of Cosmos Bank’s VISA and RuPay card customers through malware attacked the SWIFT system (a vast messaging network banks used by financial institutions), and pilfer off more than ₹ 94 crores.
It’s declared the hackers had charged at the banks’ ATM switch server and withdrawn ₹ 78 crores from different ATMs in 28 countries and about ₹ 2.5 crores was withdrawn within India.
Subsequent actions saw the hackers attack again fraudulently by transferring ₹ 13.92 crore to a Hong Kong-based bank utilizing the proxy SWIFT system.
Russian Businessman Found Guilty in $90 Million Hack-to-Trade Conspiracy
Vladislav Kliushin, aged 42, from Moscow, Russia, was sentenced following a 10-day jury trial of plotting to obtain unauthorized access to computers and to commit wire and securities fraud, and with steady counts of obtaining unauthorized access to computers, wire fraud, and securities fraud.
The U.S. District Court Judge Patti B. Saris prepared sentencing for May 4, 2023. Klyushin was apprehended in Sion, Switzerland in March 2021 and deported to the United States in December 2021 to face federal charges in Boston.
However, Klyushin was indicted along with two Russian co-players in the Hack, Ivan Ermakov and Nikolai Rumiantcev. Two others, Mikhail Vladimirovich Irzak, and Igor Sergeevich Sladkov were prosecuted in a separate indictment. All four co-conspirators remain at large.
