Twitter
Advertisement

Pune: Cosmos Cooperative Bank suspends all transactions

Account holders caught unawares, queue up outside bank branches

Latest News
article-main
The management has claimed not a single rupee belonging to account holders’ has been lost to the Malware attack
FacebookTwitterWhatsappLinkedin

Account holders with the Cosmos Cooperative Bank have been inconvenienced with long queues at its various branches in the city. This comes following a Malware attack on the bank’s online transaction system after which it suspended its ATM as well as mobile and internet banking transactions services.

Unaware of the cyber fraud, many account holders were in a fix after they failed to withdraw money from ATMs and even make online transactions. One of the account holders who visited the Deep Bungalow branch of the bank told DNA on the condition of anonymity, “I have a savings account with the bank and my salary also gets credited there. From yesterday, I have not been able to withdraw any amount from the ATM centres. After waiting for a day, when again today I went to withdraw the money, the transaction was failed after which I had no option but to come to the bank.”

An female senior citizen also had to visit the branch to withdraw money. “I usually go to the ATM for withdrawal of the amount but even after visiting multiple ATM centres when I could not get the money, I had no option but to visit the branch.”

Bank officials have also appealed to the account holders not to panic and assured that all their money is safe. Milind Kale, chairman, Cosmos Cooperative Bank, said, “Out of the Rs 94 crore, which has gone, not a single xrupee from any of the bank account holder has gone. The Core Banking System is foolproof and the hackers have not penetrated the system and the all the money in all the accounts are safe.”

The bank management, however, has suspended the ATM and other online transaction service. “We have suspended the ATM and other online transactions in order to give full access of the system to the investigating agencies. We are hopeful that we will be able to restart these facilities in coming few days,” Kale said.

The management has claimed that it has adequate cash in all its branches and it has deployed additional cashiers to cater to the need of its account holders.

ALL IS NOT WELL

  • The bank’s management has said its Core Banking System is foolproof and that hackers have not penetrated the system
     
  • It says it has suspended transaction services in order to give full access of the system to probe agencies
Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement