SSSpandana Sphoorty Financial542759Cybersecurity incident

Cyber fraud: unauthorised debits of about ₹7.80 crore from one bank account

Cyber fraud reported: unauthorised transactions of approximately ₹7.80 crore were debited from one bank account on November 1, 2026, and sent to 82 beneficiary accounts.

By ScoutQuest · Mon 2 Nov 2026, 10:54 AM IST · 1 min read

Fraud Amount

approximately ₹7.80 crore

Beneficiary Accounts

82 beneficiary accounts

Transaction Date

November 1, 2026

What happened

• The company identified a cyber fraud involving unauthorised transactions debited from one of its bank accounts on November 1, 2026.
• The transactions total approximately ₹7.80 crore and were transferred to 82 beneficiary accounts in multiple transactions during the day.
• The persons involved are under investigation.

Steps taken

• On identification, the company immediately stopped the affected services in its production environment.
• The matter was reported to the bank with a request for reversal of the transactions, freezing of the beneficiary accounts and a detailed investigation.
• A cyber fraud complaint was registered on the National Cyber Crime Reporting Portal (helpline 1930) on November 1, 2026.
• The incident is also being reported to other appropriate authorities.

Insurance and what comes next

• The company has insurance for cyber fraud and a claim is being shared with the insurance company.
• The company has said that developments, including recoveries and the outcome of the investigation, will be intimated to the exchanges as the inquiry progresses.

What an investor can take away

• The figure of approximately ₹7.80 crore is stated as the estimated impact and the estimated amount involved, spread over multiple transactions.
• Whether and how much of the amount comes back depends on the bank's reversal and account-freezing process, the investigation and the insurance claim, all of which are in progress.
• The disclosure identifies the nature of the fraud as unauthorised transactions through a cyber fraud, with details still under investigation.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

About ScoutQuest · Logos provided by Logo.dev