Cyber criminals have hacked cash machines in 28 countries to loot over £10 million from an Indian bank.

Hackers infected the bank's credit card payment system with malware, which allowed them to approve transactions and access client accounts. Fake credit cards were then used to force ATMs around the world to dispense cash worth about $13 million until they were empty.

The attack on Cosmos Bank, based in the Indian city of Pune, came just days after a warning of an imminent attack from the Federal Bureau of Investigation (FBI) last week. The FBI issued a warning to global banks that it feared there would be a global cyber attack of ATMs within days.

UK-based banks with large international operations, such as HSBC and Barclays, are among those made aware of the threat.

The FBI said that it had intelligence that criminals were going to hack into a banking system using a highly choreographed fraud scheme known as ATM "jackpotting", in which crooks hack a bank or payment card processor and use cloned cards at cash machines around the world to take out millions in just a few minutes.