A major cyber fraud incident has been reported at Bhavnagar District Cooperative Bank in Gujarat, where approximately ₹7 crore was allegedly transferred through unauthorized digital transactions. The incident has raised concerns about cybersecurity practices in cooperative banking systems.
According to preliminary information, suspicious digital transactions were noticed from multiple branches of the bank. Bank officials detected irregular activity in internal transaction records, after which an internal review was immediately initiated and authorities were informed.
Initial findings suggest that the fraud involved mobile-based digital transactions, through which the attackers were able to move money from several branches. Investigators believe the attackers may have gained unauthorized access to internal banking systems or used compromised credentials to initiate the transfers.
The estimated amount involved in the fraud is around ₹7 crore, and reports indicate that the transactions affected multiple branches of the cooperative bank. Authorities are currently tracing the transaction trail to determine the destination accounts where the funds were transferred.
Following the discovery of the fraud, the bank reportedly took precautionary steps to prevent further damage. Some banking services were temporarily stopped while technical teams began reviewing the bank’s internal systems and transaction logs.
Cybercrime investigators and technical experts have started analyzing the incident. The investigation is focused on identifying suspicious mobile numbers, devices, and bank accounts linked to the fraudulent transactions. Officials are also examining system access logs to determine whether the breach occurred due to external hacking or misuse of internal credentials.
The incident has attracted attention because Bhavnagar District Cooperative Bank reportedly manages accounts of more than 1.25 lakh customers in the region. While no official statement has confirmed any loss to customer accounts, the case has highlighted the importance of strong cybersecurity measures in banking institutions.
Authorities are continuing their investigation to trace the stolen funds and identify the individuals responsible for the cyber fraud. Further details are expected once the technical analysis of the bank’s systems and transaction records is completed.