Indian watchdog investigates breach in $45mil ATM heist

The Indian government’s cyber watchdog is investigating how security at two companies that are part of India’s vast IT services industry was breached in a global ATM heist that saw US$45 million stolen from two banks in the Middle East.

EnStage Inc, which operates from Bangalore, and ElectraCard Services, based in Pune, processed card payments for the two banks that were hit in the theft, several people familiar with the situation said.