Cosmos Bank Cyber Attack: Cybersecurity Lessons ll BUFFOON SACHIN
BUFFOON SACHIN Once a cornerstone of Pune's financial landscape, Cosmos Bank was a trusted institution for many. Customers relied on its services, from savings accounts to loans, feeling secure in their transactions. However, on August 11, 2018 , this sense of security was shattered by a sophisticated cyberattack. In the early hours of that day, a group of hackers executed a meticulously planned operation targeting the bank's core systems. By identifying vulnerabilities within the bank’s infrastructure, they were able to infiltrate its security measures with alarming ease. Utilizing advanced malware, the attackers gained control over the bank’s ATM network and core banking software. With their digital breach complete, the hackers swiftly issued commands that instructed ATMs across various locations to dispense cash without any legitimate authorization...