New Delhi: A significant ransomware attack has disrupted ATM and Unified Payments Interface (UPI) services, affecting approximately 300 small banks across India. The cyber-attack, targeting a key service provider, has led to widespread outages and operational issues.
The affected service provider, whose name has not been disclosed, manages crucial financial infrastructure for numerous small banking institutions. The attack has resulted in intermittent access issues for ATM withdrawals and UPI transactions, impacting customers nationwide. Authorities have been alerted, and cybersecurity teams are actively working to mitigate the damage and restore services. Banks are advised to communicate with their customers regarding alternative transaction methods and expected resolution timelines.
The impacted cooperative banks and regional rural banks are served by C-Edge, a joint venture of SBI and TCS. Other banking services, according to officials, were unaffected. After the breach was discovered two days ago, the appropriate measures, such as isolating the C-Edge system, had to be taken to safeguard the larger payments system. A third-party audit was prompted when a ransomware infection was found and quarantined within the system, an industry official told news agency PTI. According to the official, less than 1% of the nation’s entire payment system volume is handled by the impacted institutions, as reported by news agency PTI. According to news agency PTI, no monetary damages have been reported as a result of the incident.
