A Hyderabad based Non Banking Financial Company (NBFC) has allegedly lost ₹7.1 crore after unknown cybercriminals carried out 39 unauthorised transactions from its corporate bank account, prompting the Telangana Cyber Security Bureau (TGCSB) to register a criminal case.
The incident came to light on Friday, November 6, when company employees noticed that more than ₹7 crore had been transferred from the company’s corporate bank account within approximately one hour, between 11 am and 12 noon.
According to a complaint filed by a 45 year old director of the company on Saturday, the money was transferred through 39 unauthorised transactions using Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) banking channels.
Funds transferred to multiple accounts
- The transaction records reportedly revealed that the money was transferred to seven accounts belonging to different companies and individuals.
- One beneficiary account, reportedly held in the name of Punith Traders, received ₹2.25 crore through eight separate transactions.
- Other recipients included companies involved in trading, construction and enterprise-related activities, along with individual account holders.
- The NBFC, which is registered with the Reserve Bank of India (RBI) and headquartered in the Financial District at Nanakramguda, requested its banking partner to suspend the compromised banking channels to prevent further financial losses.
- The company also approached the National Cyber Crime Helpline (1930) on Friday and requested authorities to trace the transferred funds and freeze the beneficiary accounts before the money could be withdrawn or moved elsewhere.
TGCSB registers criminal case
- Following the complaint, the Telangana Cyber Security Bureau’s Headquarters Police Station registered a case against unknown offenders.
- Police invoked Sections 318(4) (cheating) and 319(2) (cheating by personation) of the Bharatiya Nyaya Sanhita (BNS), along with Sections 43, 66, 66C and 66D of the Information Technology Act.
- Investigators are expected to examine the transaction trail, beneficiary accounts and other digital evidence to identify those responsible.
Second major NBFC cyberattack in a week
- The latest incident is the second major cyberattack involving a Hyderabad based NBFC within a week.
- On November 1, another Hyderabad based NBFC reported that ₹7.8 crore had allegedly been transferred from its corporate account to 82 beneficiary accounts through unauthorised transactions.
- In that case, the transfers reportedly took place over approximately six hours and 40 minutes, between 10:18 am and 4:58 pm.
- The company had approached the Telangana Cyber Security Bureau and requested an investigation into the transactions, including the digital signatures and IP addresses associated with the transfers.
- According to the available reports, investigators had not yet identified the perpetrators in the earlier case.
Growing concerns over corporate cybersecurity
- The two incidents, involving alleged unauthorised transfers exceeding ₹14.9 crore in total, have raised concerns about the security of corporate banking systems and digital financial transactions.
- The investigations will be important in establishing how the banking channels were compromised, identifying the individuals behind the transactions and determining whether the transferred funds can be recovered.
Source: The Times of India report dated November 7, 2026, and Hyderabad Mail reporting.
