Police have linked a software vulnerability at a service provider to a bank fraud totaling ₹300 crore, according to a report from The420.in. The breach enabled unauthorized access that led to the large-scale theft, the report states.
The420.in reports that the vulnerability was exploited to carry out the fraudulent activity against the bank. The publication did not name the service provider or the specific bank involved in the incident. The report also did not specify the timeframe in which the fraud occurred.
The development comes amid a broader crackdown on cybercrime networks. Separate reports from BleepingComputer and Help Net Security detail the arrest of hackers in connection with a €30 million bank fraud that also exploited a flaw at a service provider. Those arrests, which took place in Europe and Brazil, were part of an investigation into a four-day theft spree, according to The Record from Recorded Future News. German investigators have described the operation as a major international bank fraud network, as reported by Yahoo.
The connection between the ₹300 crore case reported by The420.in and the €30 million operation covered by other outlets is not explicitly confirmed in the available material. However, the shared theme of a service provider vulnerability points to a recurring weak point in banking security chains. Attackers appear to be targeting third-party infrastructure rather than directly breaching bank systems.
What to watch next: Whether investigators identify the specific software flaw and whether regulators push for stricter oversight of service providers handling financial data.
