300 banks of the country including Gujarat affected by cyber attack! Banking services stopped

A ransomware attack has occurred on the system of C-Edge Technologies, a company that provides banking services to various banks in the country. Due to this cyber attack, the day-to-day operations of 300 small banks across the country, including Gujarat, have been affected. Banks' payment systems like UPI, IPMS, which have been victims of ransomware attacks, have also been completely shut down.

4 Month ago

NPCI i.e. National Payments Corporation of India has issued a notice, in which it has been stated that there has been a ransomware attack on the system of C-Edge Technology providing services to banks. Due to the ransomware attack, payment systems like IPMS and UPI will be temporarily unavailable.

To prevent a major impact on the payments ecosystem, C-Edge Technologies has been temporarily isolated from accessing retail payment systems operated by the National Payments Corporation of India, NPCI said. Due to the ransomware attack, the payment services of around 300 small Indian banks, including in Gujarat, have been disrupted. Some other banking services have been temporarily stopped.

Ransomware attack on banks: These banks were affected

According to banking sector officials, this ransomware attack has particularly affected cooperative banks and regional rural banks. who depend on SBI and TCS joint venture Sea-Edge Technologies. Other banking services continue as normal. C-Edge Technologies, which provides banking technology systems to small banks across the country. C-Edge Technologies has declined to comment on the current ransomware attack.

Ransomware Attack: Attacks can cause these threats

The biggest threat of a cyber attack is financial loss, the attacker may demand a ransom.
If the company doesn't have the money to pay, they can lose all the data, meaning data loss is a big threat.
A ransomware attack can encrypt important files and render them useless, resulting in loss of customer data or confidential information.
A company's reputation can be damaged, if customers discover that their personal information has been leaked, they may take their business elsewhere.

What is a ransomware attack?

Ransomware is a dangerous software that locks important files through strong encryption. In exchange for unlocking these important files, the cyber attacker demands a large sum of money from the organization or company. Many such cases have been reported in the past.