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Mumbai Police gives up investigation into cyber fraud on Mauritius bank

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Unable to crack the case even after three years, Mumbai Police has filed an A-Summary closure report in the alleged cyber attack case on the State Bank of Mauritius (SBM), Mumbai branch, in 2018 during which USD20 million were siphoned off.

The Indian Express reported that the Banking Unit of Mumbai Police’s Economic Offences Wing (EOW), which was probing the case, filed an ‘A’ summary report in the Esplanade court on October 5.

“An ‘A’ summary report is filed when the crime took place but remains unsolved with no clues or leads about the culprits,” the newspaper explained.

The SBM hacking was one of the biggest cyber attacks on banks in India.

While filing the report in the court, the police said that during the investigation it was found that the crime had taken place, but the whereabouts or identity of the hacker who hacked into the accounts of the bank could not be found.

On October 5, 2018, officials of SBM lodged a complaint with Mumbai Police claiming that they had become a victim of the cyber attack, wherein Rs 147 crore (which USD20 million ) were siphoned off by unknown persons from SBM’s SWIFT payment system. Mumbai Police had then transferred the case to the Banking Unit of the EOW and the probe was started.

During the investigation, it was reportedly found that the unknown hacker had allegedly obtained the digital ID and password of a bank official and after accessing the computer system of the bank, hacked SBM’s SWIFT payment system. Later, the hacker transferred Rs 147 crore from SBM’s four different nostro accounts to various bank accounts internationally.

However, the SBM stated that they have managed to retrieve most of the siphoned amount and the lost money stands at Rs 19 crore (USD2.5million) only and that their customers’ money is safe.

In the report in the court, the police, however, did not specify the exact amount lost.

“It has been a long time since the crime has taken place and after the crime the hacker has intentionally hidden his identity and there is no possibility of the accused being found in the near future,” it further said.

An official said that they have filed the ‘A’ summary in the court for now, which is a “temporary closure”, and in the future, if the accused is found, then the case can be reopened and probe can be resumed.

The court is yet to accept the summary and the next date of the hearing is on January 5, 2022.

Read the original article at Indian Express

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