Incident Score: Analysis & Impact (VISRUPCOS1780793686)
The details regarding individual company incidents & reports gives you full view from every side.
Rankiteo Score Impact Analysis
Key Highlights From The Incident Analysis
- Timeline of Cosmos Co-Operative Bank Ltd.'s Breach and lateral movement inside company's environment.
- Overview of affected data sets, including SSNs and PHI, and why they materially increase incident severity.
- How Rankiteo’s incident engine converts technical details into a normalized incident score.
- How this cyber incident impacts Cosmos Co-Operative Bank Ltd. Rankiteo cyber scoring and cyber rating.
- Rankiteo’s MITRE ATT&CK correlation analysis for this incident, with associated confidence level.
Full Incident Analysis Transcript
In this Rankiteo incident briefing, we review the Cosmos Co-Operative Bank Ltd. breach identified under incident ID VISRUPCOS1780793686.
The analysis begins with a detailed overview of Cosmos Co-Operative Bank Ltd.'s information like the linkedin page: https://www.linkedin.com/company/cosmos-bank-pune, the number of followers: 22326, the industry type: Banking and the number of employees: 1000 employees
After the initial compromise, the video explains how Rankiteo's incident engine converts technical details into a normalized incident score. The incident score before the incident was 758 and after the incident was 594 with a difference of -164 which is could be a good indicator of the severity and impact of the incident.
In the next step of the video, we will analyze in more details the incident and the impact it had on Cosmos Co-Operative Bank Ltd. and their customers.
On 11 August 2018, Cosmos Bank disclosed ATM cash-out fraud and SWIFT system breach issues under the banner "Cosmos Bank Hit by ₹94.42 Crore Cyber Heist in Coordinated Global Attack".
Pune-based Cosmos Bank, one of India’s oldest urban cooperative banks, fell victim to a sophisticated cyberattack on August 11 and 13, resulting in the theft of ₹94.42 crore ($13.5 million).
The disruption is felt across the environment, affecting ATM switch server, SWIFT system and Internet banking, and exposing VISA and RuPay debit card data, with nearly 14,849 fraudulent transactions records at risk, plus an estimated financial loss of ₹94.42 crore ($13.5 million).
In response, teams activated the incident response plan, moved swiftly to contain the threat with measures like Disabled VISA and RuPay ATM services and Shut down servers and internet banking, and began remediation that includes Server inspection and SWIFT system review, while recovery efforts such as Reconciliation with VISA and RuPay (2-7 days), international recovery efforts pending continue, and stakeholders are being briefed through Customer assurance (depositor funds secure).
The case underscores how Ongoing, with advisories going out to stakeholders covering RBI inspection and assessment.
Finally, we try to match the incident with the MITRE ATT&CK framework to see if there is any correlation between the incident and the MITRE ATT&CK framework.
The MITRE ATT&CK framework is a knowledge base of techniques and sub-techniques that are used to describe the tactics and procedures of cyber adversaries. It is a powerful tool for understanding the threat landscape and for developing effective defense strategies.
MITRE ATT&CK® Correlation Analysis
Rankiteo's analysis has identified several MITRE ATT&CK tactics and techniques associated with this incident, each with varying levels of confidence based on available evidence. Under the Initial Access tactic, the analysis identified Exploit Public-Facing Application (T1190) with moderate confidence (60%), supported by evidence indicating compromised the bank’s ATM switch server via malware and Exploitation for Client Execution (T1203) with moderate to high confidence (70%), supported by evidence indicating malware compromise of ATM switch server. Under the Execution tactic, the analysis identified User Execution: Malicious File (T1204.002) with moderate to high confidence (70%), supported by evidence indicating malware...stealing data linked to VISA and RuPay debit cards and Command and Scripting Interpreter (T1059) with moderate confidence (50%), supported by evidence indicating sWIFT system exploitation to transfer funds. Under the Persistence tactic, the analysis identified Server Software Component: Web Shell (T1505.003) with lower confidence (40%), supported by evidence indicating aTM switch server compromise via malware. Under the Privilege Escalation tactic, the analysis identified Exploitation for Privilege Escalation (T1068) with moderate confidence (60%), supported by evidence indicating sWIFT system exploitation to transfer funds. Under the Defense Evasion tactic, the analysis identified Masquerading (T1036) with moderate to high confidence (70%), supported by evidence indicating cloned debit cards used for withdrawals in 28 countries and Indicator Removal: Clear Windows Event Logs (T1070.001) with moderate confidence (50%), supported by evidence indicating no details on malware’s origin or extent of breach. Under the Credential Access tactic, the analysis identified OS Credential Dumping: LSASS Memory (T1003.001) with moderate confidence (60%), supported by evidence indicating vISA and RuPay debit card data compromised and Modify Authentication Process (T1556) with moderate to high confidence (70%), supported by evidence indicating cloned cards used for 14,849 fraudulent transactions. Under the Discovery tactic, the analysis identified Account Discovery (T1087) with moderate confidence (60%), supported by evidence indicating targeted VISA and RuPay debit card data. Under the Lateral Movement tactic, the analysis identified Remote Services: Remote Desktop Protocol (T1021.001) with moderate confidence (50%), supported by evidence indicating sWIFT system exploitation to transfer funds. Under the Collection tactic, the analysis identified Data from Local System (T1005) with moderate to high confidence (80%), supported by evidence indicating vISA and RuPay debit card data compromised. Under the Command and Control tactic, the analysis identified Application Layer Protocol: Web Protocols (T1071.001) with moderate confidence (60%), supported by evidence indicating malware compromise of ATM switch server. Under the Exfiltration tactic, the analysis identified Exfiltration Over C2 Channel (T1041) with moderate to high confidence (80%), supported by evidence indicating ₹94.42 crore stolen via ATM and SWIFT transactions and Exfiltration Over Alternative Protocol (T1048) with moderate to high confidence (70%), supported by evidence indicating funds transferred to Hong Kong-based bank via SWIFT. Under the Impact tactic, the analysis identified Data Encrypted for Impact (T1486) with lower confidence (30%), supported by evidence indicating no details on malware’s encryption capabilities and Financial Theft (T1657) with high confidence (90%), supported by evidence indicating ₹94.42 crore stolen in coordinated global attack. These correlations help security teams understand the attack chain and develop appropriate defensive measures based on the observed tactics and techniques.
Sources & References
- Cosmos Co-Operative Bank Ltd. Rankiteo Cyber Incident Details: https://www.rankiteo.com/company/cosmos-bank-pune/incident/VISRUPCOS1780793686
- Cosmos Co-Operative Bank Ltd. CyberSecurity Rating page: https://www.rankiteo.com/company/cosmos-bank-pune
- Cosmos Co-Operative Bank Ltd. Rankiteo Cyber Incident Blog Article: https://blog.rankiteo.com/visrupcos1780793686-visa-rupay-cosmos-bank-breach-august-2018/
- Cosmos Co-Operative Bank Ltd. CyberSecurity Score History: https://www.rankiteo.com/company/cosmos-bank-pune/history
- Cosmos Co-Operative Bank Ltd. CyberSecurity Incident Source: https://timesofindia.indiatimes.com/city/pune/cosmos-bank-hit-by-cyber-hack-loses-rs-94-crore-in-2-days/articleshow/65409441.cms
- Rankiteo A.I CyberSecurity Rating methodology: https://www.rankiteo.com/Images/rankiteo_algo.pdf
- Rankiteo TPRM Scoring methodology: https://static.rankiteo.com/model/rankiteo_tprm_methodology.pdf