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From: InfoSec News (alertsinfosecnews.org)
Date: Mon May 13 2013 - 04:25:46 CDT
By A.E. James
Times of Oman
May 12, 2013
Muscat: Bank Muscat on Sunday said it is examining all options to recover $39
million it lost in a major fraud unveiled by US authorities last week.
"Bank Muscat is aware from press reports that a number of arrests in different
jurisdictions have taken place in relation to the prepaid debit card fraud
incident which we disclosed on February 25 and 26," the bank said in a
disclosure statement posted on MSM website Sunday.
"We reiterate that we are exploring all avenues of recovery so as to protect
shareholder interests and will advise the markets accordingly if there are any
material developments in this regard."
In a globally coordinated campaign, hackers broke into two payment processing
companies in India that handled the prepaid debit cards for two Gulf banks --
Bank Muscat and National Bank of Ras Al Khaimah. The payment processing firms
were EnStage, which operates from Bangalore, and ElectraCard Services, which is
based in Pune, according to Reuters. Bank Muscat had outsourced its card
processing functions to EnStage.
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