Central Bank says all accounts safe after ₹14cr fraud reports
What's the story
The Central Bank of India has assured its customers that their accounts are safe, following reports of unauthorized transactions worth ₹13.97 crore. The bank clarified that the issue stemmed from a technical glitch in the interface environment of its localized Real-Time Gross Settlement (RTGS) server. It added that its core banking system (CBS) remains secure and unaffected by this incident.
Service restoration
RTGS services fully restored
The Central Bank of India also confirmed that its RTGS services have been fully restored across all channels.
This comes after media reports suggested that the bank had flagged 187 unauthorized transactions from its settlement account with the Reserve Bank of India (RBI).
These transactions were said to have occurred between October 15 and 17.
Investigation underway
FIR registered against unidentified persons
The Central Bank of India alleged that unknown individuals hacked into the central SFMS server of Indian Financial Technology and Allied Services (Iftas), a wholly-owned RBI subsidiary.
Following this, Mumbai Police registered an FIR against unidentified persons on the bank's complaint.
The unauthorized transactions reportedly involved 36 different accounts and were carried out over three days.
Customer reassurance
No customer account impacted, says bank
In its clarification regarding the unauthorized RTGS transactions, the Central Bank of India emphasized that a technical issue was detected in the interface environment of its localized RTGS server.
The bank stressed that no customer account has been impacted and that its CBS remains completely safe and secure.
This statement was part of its effort to reassure customers amid concerns over potential security breaches.