SBI official says passwords tampered in several debit card transactions

SBI has advised its customers to use the bank's own ATM network after the security breach of around six lakh debit cards issued by the bank

IANS October 23, 2016 12:51:56 IST
SBI official says passwords tampered in several debit card transactions

Amid reports of widespread debit card security breaches, a senior State Bank of India official on Saturday said the passwords were compromised in majority of cases.

"I strongly believe password is being compromised and most cases are of false transactions," Chief General Manager of State Bank of India, Bengal circle, Partha Pratim Sengupta told IANS.

SBI official says passwords tampered in several debit card transactions

Reuters

SBI, the country's largest commercial lender, has advised its customers to use the bank's own Automated Teller Machine (ATM) network after the security breach of around six lakh debit cards issued by the bank.

"Prima facie information says a lot of password compromise is happening. But we are obviously looking into the audit trail and will check transaction history of all customers who have suffered to see if there is any kind of malware problem," he said.

The bank had blocked the debit cards whose security was reportedly breached due to the malware attack.

Some of the country's top private banks like HDFC Bank, ICICI Bank and YES Bank among others too are facing similar issues and several of the customers' debit cards are reportedly being compromised.

SBI on Wednesday blocked close to six lakh debit cards following a malware-related security breach in a non-SBI ATM network.

Several other banks such as Axis Bank, HDFC Bank and ICICI Bank too have admitted being hit by similar cyber attacks -- forcing Indian banks to either replace or request users to change the security codes of as many as 3.2 million debit cards over the last two months.

There were also reports of fraudsters robbing customers of their bank deposits by calling them up and forcing them to give out details of debit cards on the threat of blocking the debit cards.

Sengupta cautioned customers not to divulge details like pin, card verification value, or any other identity information to anybody. "The bank will never ask for these details."

Updated Date:

also read

US court junks Nirav Modi's plea seeking dismissal of fraud allegations against him
India

US court junks Nirav Modi's plea seeking dismissal of fraud allegations against him

The allegations were made by Richard Levin, the court appointed trustee of three US corporations indirectly owned by Nirav Modi previously

HDFC Bank detects suspicious transactions in NRI account, suspends three employees held by police
Business

HDFC Bank detects suspicious transactions in NRI account, suspends three employees held by police

Delhi Police Cyber Cell arrested 12 people, including three HDFC bank employees, for attempting to make unauthorised withdrawals from a high-value NRI account

CBI books IT infrastructure firm MD, director for cheating SBI-led consortium of over Rs 862 crore
Business

CBI books IT infrastructure firm MD, director for cheating SBI-led consortium of over Rs 862 crore

Following an FIR, the agency conducted searches at nine locations, including residential and office premises of the accused in Mumbai and Kolhapur