Spandana Sphoorty reports Rs 7.8 Cr cyber fraud with money moved to 82 accounts

Hyderabad-based microfinance lender Spandana Sphoorty Financial Limited told the BSE and NSE on November 2, 2026 that it had identified a cyber fraud involving unauthorised transactions from one of its bank accounts on November 1. In its Regulation 30 filing, the company said the transfers totalled about Rs 7.80 crore and went to multiple beneficiary accounts. Annexure A to the filing states the money moved across 82 beneficiary accounts in multiple transactions during the day.

After spotting the incident, Spandana said it immediately stopped the affected services in its production environment. It reported the matter to its bank, seeking reversal of the transfers, freezing of the beneficiary accounts and a detailed investigation. It also registered a complaint on the National Cyber Crime Reporting Portal (helpline 1930) on November 1 and said it is informing other appropriate authorities. The company said it holds cyber-fraud insurance and is filing a claim. Persons involved remain under investigation, and recoveries are not yet confirmed.

Business Standard, citing the exchange filing, placed the episode in a wider run of cybersecurity alerts across Indian banking and financial services. It noted separate disclosures around a State Bank of India dark-web leak of customer records and a probe by AU Small Finance Bank into a potential customer-data leak. The paper also pointed to an October CERT-In advisory warning of cyberattack campaigns aimed at NBFCs, digital lending platforms and other financial entities through compromised payment and disbursement APIs. Spandana's filing does not name the attack method, and Business Standard did not claim a confirmed link to that advisory.

Spandana said it will update the exchanges as the inquiry progresses, including any recoveries. For now, the disclosed impact remains the approximately Rs 7.80 crore of unauthorised transfers, with investigation and insurance outcomes still open.