Vaults under siege

(Pallab Bhattacharyya is a former director-general of police, Special Branch and erstwhile Chairman, APSC. Views expressed by him is personal. He can be reached at pallab1959@hotmail.com) In one corner of the world, an unsuspecting customer receives a seemingly genuine phone call from a bank executive and unknowingly discloses a one-time password. In another, cybercriminals exploit thousands of mule accounts to syphon away stolen money within minutes, making recovery almost impossible. The famous Bangladesh Bank SWIFT heist, the rise of digital payment frauds in India, clever phishing attacks aimed at online banking users, and AI voice-cloning scams that have fooled even seasoned bankers all highlight a worrying truth: banks are no longer robbed by armed thieves breaking into vaults; instead, they are quietly attacked through…