SG Finserve Reports Cyber Fraud of ₹5.1 Cr
SG Finserve Ltd has reported a cyber fraud incident involving unauthorized RTGS/electronic banking transactions from two current accounts with Yes Bank. A total of 15 debit transactions amounting to ₹5,10,00,000 (₹5.10 Crore) were executed without the company's knowledge or authorization via the bank's payment API. Upon detection, the company initiated its incident response, isolated systems, and is taking steps to freeze beneficiary accounts and recover funds. The incident has been reported to the Cyber Crime Cell, RBI, and CERT-In, with further reporting to police authorities underway. An independent investigation agency has been appointed. The company assures that its core business operations, customer data, and day-to-day functioning remain unaffected. SG Finserve is implementing measures to recover the amount and enhance information security controls.
Key Highlights
- Cyber fraud detected involving ₹5.10 Crore in unauthorized transactions.
- Company has initiated incident response and is pursuing fund recovery.
- Core business operations and customer data remain unaffected.
- Investigation launched, including appointment of an independent agency.
- Information security controls are being strengthened.
Price Impact
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