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Axis Bank Hack Results In Data Breach

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The 3rd largest bank in India – Axis Bank has suffered a data breach according to latest reports. The bank representatives have reported that no financial losses have happened. However, it is yet to be revealed whether sensitive information has leaked or no.

Kaspersky Researcher Found the Hack

A researcher from the notorious company Kaspersky’s malware research department had stumbled on the threat completely by accident, saying that an investigation of another intrusion was being conducted at the time the threat was discovered.

The intrusion was later confirmed by Axis themselves as a login from an external, non-Indian IP address.

No Money Stolen

During the investigation Axis has performed, the bank did not discovery any online banking systems to be infected, meaning that no funds were drawn illegally. This is because of the fact that the infection itself did not manage to reach a higher security level granting access to the devices controlling online money transfers.

It has been confirmed that the bank had strict security protocols the usage of which may have prevented this attack from going deeper and causing more damage.

There have been multiple attacks concerning banks lately, with damage primarily done in India. One particular bank – SBI (State Bank of India) even had to come down to shutting down 600,000 debit cards because of an ATM malware.

Not only this but some of those hacks have also resulted in the theft of funds such as the July case with Union Bank of India that claims some of it’s accounts hosted offshore have been hacked huge sums of funds were extracted illegally. The funds were partially recovered, but up to this point, it is not known what is the exact amount of stolen money.

Banking malware infections are also reported to generally increase, especially during colder seasons when a lot of money are transferred in relation to different holidays.

Vencislav Krustev

A network administrator and malware researcher at SensorsTechForum with passion for discovery of new shifts and innovations in cyber security. Strong believer in basic education of every user towards online safety.

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