Cosmos Bank Attack: $13.5M Lost in Global ATM Malware Scheme

An Indian bank has lost nearly 944m rupees ($13.5m) after hackers withdrew the funds from ATMs around the world and made other fraudulent SWIFT transfers.

Pune-headquartered Cosmos Bank claimed the attackers first stole customer information by installing malware on the firm’s ATM server, before conducting the globally co-ordinated withdrawals in 28 countries on August 11. An alert from the FBI warned unnamed banks on Friday of an imminent “global Automated Teller Machine (ATM) cash-out scheme” but was unable to halt the sophisticated plot.

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