Free Press Journal
  • Cosmos bank cyber fraud: Rs 78 crore withdrawn from 28 countries, says Police

    Pune: Following a hacking of servers of city-headquartered Cosmos Bank, Rs 78 crore were withdrawn “physically” from 28 countries including the UK, USA, Russia and the UAE using cloned ATM cards, police today said. On August 11 and 13, unidentified hackers targeted the bank’s ATM switch server and stole details of VISA and Rupay ATM cards. They also attacked the interbank SWIFT system, and syphoned off Rs 94

  • Bank tightens SWIFT authentication

    Mumbai : The audit committee of Punjab National Bank (PNB) said the bank has implemented a three-level authentication process for financial transactions through SWIFT system, which are being monitored at the bank’s head office.

  • Bank officers’ union calls for naming and shaming defaulters

    Mumbai : The All India Bank Officers Confederation (AIBOC) has alleged that most financial scams take place due to loopholes in the system and called for publishing the names of defaulters of all banks.