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Bank Muscat mulling options to recover card fraud funds
- Oman: Monday, May 13 - 2013 at 07:30
Oman's Bank Muscat, the main victim of the $45m global cyber heist, has said it is looking at all options to recover the money it lost after hackers broke into two unidentified payment processing companies in India, Reuters has reported. Last February, the lender said its pre-paid travel cards were hit by fraud, forcing it to take a OR15m ($39m) loss provision. "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," it said. "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."
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