Spandana Sphoorty Flags Rs 7.8 Crore Cyber Fraud, Seeks Bank Reversal
Spandana Sphoorty Financial reported unauthorized transactions worth Rs 7.8 crore after discovering a cyber fraud incident on Sunday, triggering immediate containment measures and a formal request to its bank to reverse the transfers. A senior company official said the microfinance lender has insurance coverage for the loss, while investigations continue into how the breach occurred and which services were affected.
