Ransomware Attack Disrupts Bank Operations:
A ransomware attack severely disrupted the operations of at least 150-200 cooperative banks and Regional Rural Banks (RRBs) in India.
- The National Payments Corporation of India (NPCI) has identified the attack, which has primarily affected banks serviced by C-Edge Technologies Ltd., a joint venture between Tata Consultancy Services Ltd. (TCS) and State Bank of India (SBI).
- The ransomware attack targeted C-Edge Technologies Ltd., impacting their ability to provide services to cooperative banks and RRBs.
- Customers of the affected banks were unable to access payment systems, including Unified Payments Interface (UPI) and Aadhaar-enabled payment systems (AePS).
- Some RRBs, depending on their sponsor banks, continued to function normally as they use different technology service providers.
- The attack highlights the vulnerability of technology service providers and their critical role in maintaining the payment infrastructure.
- The incident underscores the need for robust cybersecurity measures to protect against such attacks in the future.
- Cooperation between NPCI, banks, and technology providers is crucial to swiftly address and mitigate the impacts of such disruptions.
