Oct 19, 2016, 07.17 PM | Source: Moneycontrol.com
India's third-largest private-sector bank Axis Bank has appointed auditing firm EY to probe a cyber attack that came to its notice last month, a report in the Economic Times says.
The ET report said Axis was contacted by an engineer from Moscow-based Kaspersky anti-virus firm who told the bank that he had discovered a bug in Axis' systems while carrying out a separate probe.
The bank has filed a report with the Reserve Bank of India appraising it of the situation.
This is not the first time a cyber attack has been carried out against a financial institution in India.
The ET report lists instances of a depository and a large public sector bank that had suffered a cyber attack.
In June this year, the Reserve Bank of India had formulated a comprehensive policy that it wants banks to roll out.
The guidelines outline an indicative set of baseline cyber security and resilience requirements, steps to set up a "cyber security operation centre" and a template for reporting incidents to the central bank.
Axis Bank has strong security systems and procedures in place. We have a large team of IT professionals and security experts who are constantly monitoring our systems, and mitigate any threat, said an official spokesperson of Axis Bank.
The spokesperson further added: "Our internal monitoring mechanism identified such a threat recently and all steps have been undertaken to neutralise the same."
"There has been no loss to our customers," the spokesperson said.
KR Choksey has recommended accumulate rating on Ax
Religare is bearish on Axis Bank has recommended s
Edelweiss is bullish on Axis Bank has recommended
Net interest income during the quarter grew by 4.1
Citi has a buy rating on Axis Bank with target at