The Cosmos Bank cyber attack in August 2018 was a significant event in the banking sector. It involved a sophisticated cyber attack on Pune-based Cosmos Cooperative Bank in India. The attackers used malware to hack into the bank's ATM switch server and initiate fraudulent transactions.

Here are some key details about the attack:

1. *Date and Scope*: The attack occurred in August 2018, and it targeted the Cosmos Bank, one of the oldest cooperative banks in India.

2. *Method*: The attackers used malware to compromise the bank's ATM switch server, which handles ATM transactions and payment gateway functions. This allowed them to carry out unauthorized transactions.

3. *Financial Impact*: The attackers managed to siphon off over ₹94 crore (approximately $13.5 million at that time) through fraudulent transactions across 28 countries. They withdrew money from ATMs and also transferred funds to bank accounts abroad.

4. *Investigation*: The attack triggered investigations by multiple agencies, including the Pune police and the cybercrime department. The investigation revealed that the malware used in the attack was similar to that used in the 2016 Bangladesh Bank cyber heist.

5. *Recovery and Response*: Following the attack, Cosmos Bank took steps to enhance its cybersecurity measures and improve its systems' resilience against such attacks. There were also calls for stricter cybersecurity regulations in the banking sector in India.

The Cosmos Bank attack highlighted the vulnerabilities in banking systems globally and underscored the importance of robust cybersecurity measures to protect financial institutions and their customers from such threats.
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