C V Anand, city police commissioner in a meeting organized by the Reserve Bank of India with the representative of 51 Urban Cooperative banks functioning in Telangana, NABARD had shed a light on threats from hackers to banks with poor cyber security systems.
He had told the participants about the recent AP Mahesh Cooperative Urban Bank hacking case and advised all the banks to spend on cyber security measures and strengthen their cyber security apparatus. Hackers breached the network of the bank on January 24 and siphoned off Rs 12.48 crore.
During the meeting, Anand explained the hacking operation against AP Mahesh Cooperative Urban Bank. The police have been probing for two months; the main hackers involved in cybercrime are yet to be identified. 23 people, including 4 Nigerians have been arrested in the case. He said that security lapses have been identified during the investigation.
Anand further added that the banks must spend a sufficient amount on cyber security measures including firewalls, intrusion prevention and detection systems, segregated system networks, and anti-pushing systems.
