Home > Cyber News > Axis Bank Hack Results In Data Breach

Axis Bank Hack Results In Data Breach

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.

Ventsislav Krastev

Ventsislav is a cybersecurity expert at SensorsTechForum since 2015. He has been researching, covering, helping victims with the latest malware infections plus testing and reviewing software and the newest tech developments. Having graduated Marketing as well, Ventsislav also has passion for learning new shifts and innovations in cybersecurity that become game changers. After studying Value Chain Management, Network Administration and Computer Administration of System Applications, he found his true calling within the cybersecrurity industry and is a strong believer in the education of every user towards online safety and security.

More Posts - Website

Follow Me:

Leave a Comment

Your email address will not be published. Required fields are marked *

This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Privacy Policy.
I Agree