Bhavnagar District Bank's software hacked and cheated of more than Rs 7 crore: Money withdrawn from mobile banking from 4 branches, claims chairman of fraud due to software glitch

A serious incident of cyber fraud has come to light in the Bhavnagar District Cooperative Bank. A case of cyber fraud of more than Rs 7 crore has come to light from the branches of Sidsar, Subhash Nagar, Bharatnagar and Talaja branches by hacking the data of the district 'cooperative bank' and cracking the security system. Upon learning about this, the Bhavnagar head office has suspended the bank's operations in all the branches of the district, and the bank's team along with technical experts have reached Gandhinagar to lodge a complaint to investigate the matter. 'The amount was showing more than Rs 7 crore instead of Rs 70-80 lakh' Bhavnagar District Cooperative Bank Chairman Rasikbhai Bhingradia said, "There has been a cyber fraud in our bank, which we came to know about at 10 am on Monday. Usually, mobile banking transactions take place between 70 and 80 lakh on holidays. After the bank closed on Saturday evening, Sunday was a holiday, and when our staff friends checked at 10 a.m. on Monday, the amount showed more than Rs 7 crore instead of Rs 70-80 lakh. He immediately informed the CEO. 'Transactions in one of the four branches were made' Bhingradia further said that there is no involvement of the staff in this, it is a software flaw. The key to software is with the company. It doesn't have the CEO or the general manager or me, but the data is only being worked upon, and the fraud has happened in the name of one of the four branches. 'Three crore rupees were withdrawn in one name' He further said that especially from mobile banking, which cannot be done from any of our 88 branches, it should be installed in the software. However, an amount of three crore rupees has been withdrawn. Therefore, the key to the software can be obtained by a knowledgeable person or a sensible person. In this, the money in the account will not be less than the one who has it. If someone has Rs 1,000 in his account, only Rs 1,000 will come out. In which Rs 2000 was deposited in one account, Rs 3 crore was withdrawn from that account. 'Our team went to Gandhinagar to file an FIR with the technician' The bank's chairman Rasikbhai Bhingradia further said, "Today we got the figure fixed, so we went to the Bhavnagar SP. There the SP said that there is a fraud bigger than seven crores, and we do not have any technician for cyber fraud. With all the facilities that are in Gandhinagar, our entire team has gone to Gandhinagar to file an FIR with the technician. The bank is currently closed He said that the bank operations are currently closed, so these people have defrauded anyone, whose keys have been obtained or their data has come to them. Therefore, the bank has stopped the proceedings so that the fraud can start again. Account holders will face this problem He further said that the closure of banks will cause inconvenience to the farmers, so the government which gives the interest compensation should pay it within 364 days. The farmers will have this problem because they will lose the interest compensation of those whose maturity is expiring these days. And the people who have general accounts have to do the day-to-day administration and have to pay someone, so it will be difficult. ALSO READ: Fraud at Jalalpur branch of Bhavnagar District Cooperative Bank Two months ago, a major scam has come to light in which the Bhavnagar District Cooperative Bank at Jalalpur in Gadhada taluka of Botad district has been embezzled. There has been a stir in the diocese with allegations that about Rs 3 to 5 crore has been embezzled from the accounts of more than 100 account holders by the bank's cashier. In this regard, the farmers have filed a written application at the Dhansa police station demanding strict action. (Read the full story) What is the whole matter? Anand, an employee working as a cashier in the Jalalpur branch, had been avoiding making entries in the passbooks of account holders for the past four months. He had suddenly stopped coming to the bank since the 12th. When the farmers checked the bank, it was found that lakhs of rupees were missing from their accounts. What is shocking is that the farmers have not given any cheque or signed the withdrawal slip, yet amounts ranging from Rs 5 lakh to Rs 15 lakh have been withdrawn directly. (Read the full report)