Bank of Baroda files cyber claim after nearly 1TB leak
Bank of Baroda just filed a claim on its cyber insurance after a suspected data breach allegedly exposed nearly 1TB of customer data on the darknet.
The bank's coverage is pretty big (about ₹750 crore in total, with a loss limit of about ₹300 crore), and it has notified lead insurer National Insurance to help handle the fallout.
Breach traced to employee email
The breach was traced back to an employee's hacked email account, according to the bank on X.
Right now, forensic experts are digging into the details, which could cost up to ₹4 crore. Financial losses might come from regulatory fines (up to ₹5 crore), lawsuits, or business disruptions.
The bank says its main systems are safe, and it's working closely with authorities like CERT-In to stay compliant and keep things under control.