India is undergoing the biggest data breaches to date with as many as 3.2 Million debit carddetails 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.
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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.