In 2023, there a fraud came to light in UCO bank. How it was pulled off technically, through digital banking channels is described the linked article.

It’s a very interesting read, I had no idea about how the various payment mechanisms – NEFT/RTGS/IMPS worked in our banking system.

It also highlights the importance of something known as “micro-segmentation” in securing communication between microservices, which restricts the attack surface.