Hackers outsmarts global banking systems, steal 45 million dollars

Names of two Indian IT services companies have cropped in the investigations that reportedly proved weak links for the cyber attack

New Delhi/May 12
Eight men from New York cell of hackers were arrested by US federal authorities for a theft of 45 million dollars from around 27 countries through ATMs that is being termed as world’s smartest theft.
As per reports, two Indian companies EnStage Inc and ElectraCard Services that operates from Bangalore and Pune respectively and provide banking transaction processing solutions were the weak links through which cyber thieves stole around Rs 247 crores.
A group of cyber thieves allegedly hacked into two Indian transaction processing companies that handles Visa and MasterCard prepaid debit cards transaction and manipulated the financial information, raising the withdrawal limits on their cards that were issued by the National Bank of Ras Al-Khaimah in UAE and withdrew around 5 million dollars from ATMs across several Arabian countries.
In February 2013, the group struck again but this in New York in United States and reportedly stole around 40 million dollars from US leading banks. Without any guns or masks, the cyber thieve group committed theft that is being termed world’s smartest theft and is the one of the largest heist in New York’s history.
However, their brazen run came to an end as they were arrested after many ATMs that had cameras captured their photos while stuffing cash into their bags. It is astonishing that these hackers stole the cash using only 17 ATM cards.
US authorities said that these hackers broke into the two Indian IT companies and raised the balance and withdrawal limits of their bank accounts after which they withdraw the money through banks across 27 countries.