In mid-2016, India suffered a massive security breach in its ATM network that lasted for almost two months. About 3.2 million debit card details were allegedly stolen from the country’s major banks including the State Bank of India, HDFC Bank, ICICI Bank or Axis Bank due to a malware in Hitachi PaymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. More Services’ servers. Customers were advised to changeThis is the action by which certain banknotes and/or coins are exchanged for the same amount in banknotes/coins of a different face value, or unit value. See Exchange. More their PIN codes and millions of debit cards had to be recalled. Moreover, payments were blocked at international locations and the withdrawal limit was temporarily reduced.
The case has been audited by the payment security specialist SISA, which confirmed that the hackers exploited a flaw in Hitachi Payment Services’ system. Loney Antony, Hitachi’s Managing Director, acknowledged the mistake and apologized to banks and customers for the inconvenience. He added that the company will enhance its infrastructure to prevent further cyber-attacks.
Another investigation led by the National Payment Corporation of India found that 641 customers from 19 banks had their bank accounts plundered through illegal withdrawals, for a total amount of 13 million rupees ($194,600).The amount of stolen data could unfortunately not be determined.
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