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Cyber Attack on Union Bank of India
April 17, 2017
A cyber attack on Union Bank of India was observed after an employee opened an email attachment releasing malware. This attack to steal the data of the bank was similar to one seen in Bangladesh central bank’s account last year which had lead to loss of $81 million.
The mail looked like it has been sent from the Reserve Bank of India, but was an attempt to steal Union Bank’s access codes.
The codes were being used to send transfer instructions for about $170 million to Union Bank account at Citigroup Inc. in New York.
Union Bank has been looking into this and has blocked the motion of the funds.
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