Pune court convicts 11 accused in Cosmos Bank cyber fraud case

A court in Maharashtra’s Pune district has convicted 11 people in the Cosmos Bank cyber fraud case, in which hackers siphoned off more than Rs 94 crore through a malware attack over a period of two days in 2018, police said on Sunday.

The judicial magistrate (first class) on Saturday sentenced nine of the accused to four years’ imprisonment and two others to three years and imposed a fine on them, an official said.

The accused were convicted of charges under relevant provisions of the Indian Penal Code and the Information Technology Act, he said.At least 18 persons were arrested from different parts of the country in connection with the fraud that was executed over a period of two days in August 2018.