Spandana Sphoorty Financial reports cyberattack involving its bank account

Microfinance lender Spandana Sphoorty Financial said on Monday that it identified a cyber fraud incident involving unauthorized transactions debited from one of its bank accounts on November 1.

Here are some key details:

Transactions totaling about 78 million rupees (about $822,300) were transferred from one of its bank accounts to multiple beneficiary accounts. Upon identifying it, the company immediately stopped the affected services, it said


The company reported the matter to the bank, which it did not name, with a request for reversal of transactions, freezing of beneficiary accounts and a detailed investigation

The company also registered a complaint at the National Cyber Crime Reporting Portal

Indian lenders have reported cyber incidents in recent weeks, with AU Small Finance Bank probing a potential customer-data leak and State Bank of India disclosing a dark-web leak involving 3,897 customer records.