Hyderabad NBFC hit by ₹8-cr cyber fraud; funds routed to 82 accounts

Hyderabad-based non-banking financial company (NBFC) Spandana Sphoorty Financial reported a cyber fraud involving unauthorised transactions from one of its bank accounts on November 1. The transactions, totalling ₹7.80 crore, were transferred to 82 beneficiary accounts. After detecting the fraud, firm informed its bank and requested the reversal of the transactions and freezing of the accounts.