Bank of Baroda hit by cyber security incident

Public sector Bank of Baroda said that it had received a communication from an anonymous source that claimed access to certain data. The bank has since activated cyber incident response and containment protocols, and engaged an independent CERT-In empanelled cyber security agency to assess the matter and investigate the extent of the compromise.

“Based on the preliminary findings available at this stage, the incident has been identified as potential business email compromise and is not expected to have any material impact on the bank’s operations, financial performance or business continuity,” the bank has said.

A detailed assessment is currently underway, and appropriate remedial and preventive measures are being implemented as required, it added.