Banking Fraud In Andhra Pradesh: Mahesh Urban Bank Servers Hacked, Rs 12 Cr Withdrawn

HYDERABAD: Hackers gained access to AP Cooperative Mahesh Urban bank systems and transferred Rs 12 crore to several accounts.

According to the authorities, several individuals hacked into bank servers, then logged into major accounts and transferred the funds to over 100 bank accounts, The Hindu reported.

The hack in the system was discovered after bank staff conducted an internal investigation and filed a complaint with the Hyderabad Cyber Crime Police.

The cops who had filed a report went to Mahesh Bank’s main branch and reviewed the security details.

The AP Mahesh Cooperative Bank has 45 branches in four states, with its headquarters in Hyderabad.

According to the officials, the hackers targeted at least three of Mahesh Urban bank’s branches in the city. The sites, however, have not been revealed.

Police added that by acting quickly, they were able to freeze approximately 2.5 crore of the transferred funds.

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