Central Bank of India reports unauthorised transactions worth ₹13.97 crore, FIR filed
The funds were routed from its RBI settlement account to accounts at 36 banks after an alleged breach involving IFTAS’s Central SFMS server.
The Central Bank of India reported unauthorized transactions totaling ₹13.97 crore, with 187 unauthorised transfers occurring between October 15 and 17. The bank alleges that unknown individuals gained unauthorized access to the Structured Financial Messaging System (SFMS) server of Iftas, a wholly-owned RBI subsidiary, through the SFMS server of its core banking system.
The money was deposited into 36 bank accounts, but the bank could not find any trace of these transactions in its internal systems. The RBI and other relevant authorities have been informed, and a police case has been registered.
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