Ransomware attack isolates several banks in India

C-Edge Technologies, a provider of banking technology systems for small banks in India, has had to deal with a ransomware attack. The attack, while not directly affecting the banks, has nevertheless affected 300 of India’s 1,500 cooperative and regional banks located outside of major cities that rely on C-Edge Technologies for digital payments. The National Payment Corporation of India (NPCI), a regulator of payment systems, has announced that it has temporarily isolated the payment systems of C-Edge Technologies to prevent wider impacts. The ransomware attack first and the isolation afterward meant that the banks’ customers could no longer access their customers’ online payment systems.