In a major cybercrime incident, hackers managed to steal Rs 2.34 crore from the Ballari District Co-operative Central (BDCC) Bank in Karnataka. The breach was uncovered after customers from several branches in the Vijayanagara and Ballari districts reported issues with funds not being credited to their accounts.
According to the police, the hackers targeted the bank’s RTGS/NEFT transaction system. On January 10, 2025, during a routine fund transfer from BDCC Bank to IDBI Bank, the hackers tampered with XML files, changing account numbers and IFSC codes. While the beneficiary names stayed the same, the funds were redirected to 25 accounts in northern states, instead of going to the intended recipients.
The fraud came to light on January 13, 2025, when branches began noticing discrepancies in online transactions dating back to January 10. Upon investigation, it was revealed that transactions over Rs 5 lakh had been diverted to unauthorized accounts.
In response, BDCC Bank temporarily suspended its RTGS/NEFT services and filed a complaint at the Hosapete Town Police Station. The case was later transferred to the Ballari CEN (Cyber Economic Narcotics) Police Station for further investigation.
The police have registered an FIR under relevant sections of the Information Technology Act and the Indian Penal Code, charging the hackers with fraud, cheating, and misuse of computer systems.
Authorities are actively investigating the breach and working to trace the 25 beneficiary accounts where the stolen funds were transferred. This incident highlights the vulnerabilities in financial transaction systems and the growing threat of cybercrime in India’s banking sector.
BDCC Bank has assured its customers that efforts are underway to recover the stolen funds and to strengthen cybersecurity measures to prevent such incidents in the future.
