AP Mahesh Cooperative Urban Bank Server Hacked, 12 Crores Stolen

In an ufortunate turn of events, Cyber hackers hacked into the server of A.P. Mahesh Cooperative Urban Bank's systems and made away with Rs 12 crores, stolen from several accounts. Later, bank officials filed a complaint with the Hyderabad police department. The cybercrime section has opened an investigation into the issue on Monday.

Some people hacked into the bank's servers and moved humoungous amounts to around 100 separate bank accounts. After the scam was identified following an internal verification, bank officials filed a police report. To begin the investigation, a police team went to the bank's main branch. The team obtained information on the bank's cyber security system. This is reported to be the city's first e-fraud targeting a bank. Mahesh Bank, headquartered in Hyderabad, has 45 branches across four states. By cloning hundreds of credit cards, hackers stole Rs 94 crore from Pune-based Cosmos Bank, India's second-biggest cooperative bank, in 2018.