Ransomware attack shuts down payment systems in nearly 300 Indian banks
A ransomware attack on technology service provider C-Edge Technologies has temporarily shut down payment systems across nearly 300 small local banks in India, according to two sources directly aware of the matter.
C-Edge Technologies, which provides banking technology systems to small banks nationwide, has not responded to an email seeking comment. Similarly, the Reserve Bank of India (RBI) did not reply to Reuters' request for comment.
The National Payment Corporation of India (NPCI), which oversees payment systems, issued a public advisory late Wednesday, stating that it had "temporarily isolated C-Edge Technologies from accessing the retail payments system operated by NPCI."
"Customers of banks serviced by C-Edge will not be able to access payment systems during the period of isolation," the NPCI announced.
To prevent a wider impact, nearly 300 small banks have been isolated from the broader payment network, according to sources who are officials at a regulatory authority. "Most of these are small banks and only about 0.5% of the country's payment system volumes would be impacted," one source said.
India has nearly 1,500 cooperative and regional banks, mainly operating outside major cities, and some of these banks have been affected, the sources told Reuters.
NPCI is conducting an audit to ensure the attack does not spread, the second source added.
In recent weeks, the RBI and Indian cyber authorities have warned banks about potential cyber-attacks, according to banking industry sources and the first source.
With inputs from Reuters.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Man sentenced to 8 years in jail for kidnapping minor in 2019
Ballia (UP) (PTI): A court here sentenced a man to eight years imprisonment for kidnapping a 17-year-old girl in 2017, police said on Saturday.
Additional District Judge (POCSO) Pratham Kant on Friday also imposed a fine of Rs 25,000 on Devgan Kumar Yadav, they said.
Superintendent of Police Omvir Singh, on Saturday, said Yadav had kidnapped the girl on the night of January 5, 2019. Based on her grandfather's complaint, Devgan was arrested under sections 363 (punishment for kidnapping) and 366 (kidnapping, abducting or inducing woman to compel her marriage, etc) of the Indian Penal Code and other sections of the Protection of Children from Sexual Offences (POCSO) Act.
The court found Devgan guilty and sentenced him to eight years' imprisonment, the SSP said.
