Thursday, 20 October 2016

ATM Hack Hits 3.2 Million Indian Debit Card- CHANGE YOUR PIN NOW

India is undergoing the biggest data breaches to date with as many as 3.2 Million debit card details reportedly stolen from multiple banks and financial platforms.

The massive financial breach has hit India's biggest banks including State Bank of India (SBI), HDFC Bank, Yes Bank, ICICI Bank and Axis, and customers are advised to change their ATM PIN immediately.

Hackers allegedly used malware to compromise the Hitachi Payment Services platform — which is used to power country's ATM, point-of-sale (PoS) machines and other financial transactions — and stole details of 3.2 Million debit cards, reports The Economic Times.

Hacked Debit Cards Reportedly Used in China



Some banks, including the country's biggest lender SBI, have announced that they'll replace compromised debit cards, while others banks, including HDFC Bank, have urged their customers to change their ATM PINs and avoid using ATMs of other banks.

The extent of damage due to breach also depends on the type of cards customers are using.

Cards which use Magnetic Stripe transmit your account number and secret PIN to merchants in a way that it could make easy for fraudsters to hack them, making these cards easier to clone.

SBI Blocks and will Re-Issue 600,000 Debit Cards

SBI has blocked affected debit cards and will re-issue over 600,000 cards.
the Payments Council of India has ordered a forensic audit on the Indian bank servers to measure the damage and investigate the origin of the cyber attack. Bengaluru-based payment and security specialist SISA will conduct the forensic audit.