Cyber attacks on banks and financial services firms have been on the rise worldwide. Photo: MintMumbai: Axis Bank Ltd, India’s third-biggest private sector lender by assets, said on Wednesday there was no loss to its customers from a recent cyber attack. Cyber attacks on banks and financial services firms have been on the rise worldwide. In July, state-run Union Bank of India Ltd said one of the bank’s offshore accounts was breached in a cyber attack, but the money trail was traced and the movement of funds was blocked. Some $81 million was stolen from the Bangladesh central bank account with the New York Fed this year in one of the biggest-ever cyber heists.

Source: Mint October 19, 2016 11:26 UTC