Spandana Sphoorty reports ₹7.8 crore cyber fraud in 82 accounts
In short
Spandana Sphoorty said it was hit by a ₹7.8 crore cyber fraud involving 82 accounts.
The company said unauthorised transactions happened from one of its bank accounts on November 1. It has asked for the money to be recovered and for beneficiary accounts to be frozen. It is not yet clear who carried it out or how much will be recovered.
What the reporting says
Spandana Sphoorty reported a ₹7.8 crore cyber fraud involving 82 accounts after unauthorised transactions were made from one of its bank accounts on November 1. The company has sought fund recovery and the freezing of beneficiary accounts, according to the available reporting. What caused the breach and how much, if any, can be recovered are still unknown.
Why it matters
The reporting says the microfinance lender Spandana Sphoorty disclosed a cyber fraud of ₹7.8 crore linked to 82 accounts, with unauthorised transactions from one bank account on November 1. The company has sought recovery of funds and freezing of beneficiary accounts. The reporting does not say who was responsible, whether any money has been recovered, or whether customer accounts were affected.