Where to Keep Our Money When It Is Not Safe In The Bank?
By AKRao24
@AKRao24 (27424)
India
August 15, 2018 2:34pm CST
Some Criminals hacked the server of Cosmos Co-perative Bank, Pune in India and stolen 94 Crores of Indian Rupees from the bank.
The hackers attacked the Bank server and managed to clone thousands of ATM cards within two days.
And they have used these cards to with draw money from ATMs situated in Canada and Hong Kong from 25 different ATMs.
They also used the Cards to with draw some amount from ATMs in India too.
A total bounty of about 94 Crores of Indian rupees!
These operations were conducted on 11th and 13th of August!
It seems they also managed to transfer about 13.92 Crores of Rupees in a Bank situated in Hing Kong!
The Cyber Police may solve the case, but here arises a big question that, ‘Is the hard earned money in the life which is deposited in the Bank is safe or not?’
What Do you feel? Your response will be highly appreciated! Thanks!
The hackers attacked the Bank server and managed to clone thousands of ATM cards within two days.
And they have used these cards to with draw money from ATMs situated in Canada and Hong Kong from 25 different ATMs.
They also used the Cards to with draw some amount from ATMs in India too.
A total bounty of about 94 Crores of Indian rupees!
These operations were conducted on 11th and 13th of August!
It seems they also managed to transfer about 13.92 Crores of Rupees in a Bank situated in Hing Kong!
The Cyber Police may solve the case, but here arises a big question that, ‘Is the hard earned money in the life which is deposited in the Bank is safe or not?’
What Do you feel? Your response will be highly appreciated! Thanks!21 people like this
29 responses
@AKRao24 (27424)
• India
16 Aug 18
No doubt about it! We regularly getting some or other cases of cyber crimes in India on daily basis. But this one was big and the losses are huge that made it a big news!
Banks do they charge anything extra to safeguard your money by insuring it in your country?
2 people like this
@Shiva49 (26641)
• Singapore
17 Aug 18
@AKRao24 I understand my reply is not clear enough.
My funds in India cannot be withdrawn outside India unless I get auditor certificate for transfer outside. That being the case, how come these funds were looted from a cooperative bank even from foreign countries?
One suggestion may I? Maybe you can say it in millions as one foreigner told me, she was looking at the sky for “crows”! Siva
2 people like this
@caopaopao (12395)
• China
16 Aug 18
If our money is in the bank, if the bank is robbed, then the bank has to pay back our money. I don't know where the money can be kept except in the bank.
2 people like this
@caopaopao (12395)
• China
16 Aug 18
@AKRao24 I won't get back my money in the bank. I feel it is safe there at present.
2 people like this
@thislittlepennyearns (61821)
• Defuniak Springs, Florida
16 Aug 18
I use my PayPal debit card for just about everything.
2 people like this
@AKRao24 (27424)
• India
16 Aug 18
@thislittlepennyearns , Yes that is the ultimate truth!
1 person likes this
@thislittlepennyearns (61821)
• Defuniak Springs, Florida
16 Aug 18
@AKRao24 That's true about legit every bank ever.
2 people like this
@porwest (89267)
• United States
15 Aug 18
In the U.S. we generally don't have to worry about it since banks are mostly FDIC insured, and so you are entitled to your money regardless of what happens to the bank. That being said, you are only ensured up to a certain amount per account. I keep most of my money in my brokerage accounts.
2 people like this
@porwest (89267)
• United States
20 Aug 18
@AKRao24 For the most part yes since most of the money is backed at least by the underlying stocks. Certainly riskier BECAUSE of the stocks. But brokerages also make money a bit differently than how the banks do it, and they have different reporting.
1 person likes this
@yoalldudes (35037)
• Philippines
16 Aug 18
@AKRao24 In your room. It's heavy anyhow. But it's scary too because you might get robbed.
2 people like this
@Nickzter1331 (4229)
• Philippines
16 Aug 18
,,if banks is not safe anymore maybe it will stay at my house in a corner wherein itll hard to notice...
2 people like this
@AKRao24 (27424)
• India
17 Aug 18
@Nickzter1331 , May it be in smaller or larger amount after all money is money! Thanks!
1 person likes this
@Nickzter1331 (4229)
• Philippines
17 Aug 18
@AKRao24 ,,,uhm yeah... I wont have millions of money anyway.. :)
2 people like this
@popciclecold (38544)
• United States
16 Aug 18
I am sorry yo hear this. but it seems like the smarter people get, about protecting the money. the harder people work to steal it.
2 people like this
@popciclecold (38544)
• United States
16 Aug 18
@AKRao24 You are so right, in saying in no time.
2 people like this
@snowy22315 (179715)
• United States
16 Aug 18
It is scary to say the least. I think alot of establishments are not safe from cyber attack these days.
2 people like this
@BelleStarr (61102)
• United States
15 Aug 18
Money is our banks is insured so it would not be lost to the people who placed it there.
2 people like this
@BelleStarr (61102)
• United States
16 Aug 18
@AKRao24 Here it is $250.000 or 17 million rupees
2 people like this
@lovebuglena (44420)
• Staten Island, New York
17 Aug 18
If it is not safe in a bank where is it safe then? Not in a safe or mattress at home that's for sure. And burying it in the backyard of your house isn't good either.
2 people like this
