The Himachal Pradesh State Co-operative Bank suffered a major cyber fraud, losing ₹11.55 crore due to hackers compromising a customer's mobile phone. The attack involved installing a malicious app that enabled unauthorized access to the bank's systems, resulting in significant high-value transactions. This incident raises urgent concerns about cybersecurity in financial institutions, highlighting the need for improved defenses, employee training, and proper budgeting for security measures to protect customer trust and prevent operational disruptions in the future.
Indrajit Roy Choudhury 