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SBI blocks over half million debit cards after security risk

IANS  |  Mumbai 

Following a suspected security breach, the (SBI) has blocked more than 600,000 debit cards of its customers and will issue fresh cards to them, official sources said here on Wednesday.

The malware-related security breach was reportedly detected in the non-ATM network and the move is intended to ensure that customer's confidential personal data is not compromised while swiping.

Confirming, a spokesperson said that card network companies NPCI, MasterCard and Visa had informed various banks in about a potential risk to some cards in "owing to a data breach".

"Accordingly, has taken precautionary measures and have blocked cards of certain customers identified by the networks," the spokesperson said, without revealing the exact number of customers who would be affected.

The emphasised that its own systems have absolutely not been compromised and existing cardholders are not at any risk and can continue to use their cards as usual.

Meanwhile, will issue new cards free of cost to the affected customers in the incidents affecting the cards industry.

According to banking circles, several other banks have also experienced similar problems as a few ATMs have been hit by a malware which has a high potential to compromise customers data.

Official figures indicate that has over 20 crore active debit cards, besides another 4.75 crore of its associate banks.

Some private banks are conducting security review by experts of its ATM networks to pre-empt any type of breaches.

--IANS

qn/sm/vt

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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SBI blocks over half million debit cards after security risk

Following a suspected security breach, the State Bank Of India (SBI) has blocked more than 600,000 debit cards of its customers and will issue fresh cards to them, official sources said here on Wednesday.

Following a suspected security breach, the (SBI) has blocked more than 600,000 debit cards of its customers and will issue fresh cards to them, official sources said here on Wednesday.

The malware-related security breach was reportedly detected in the non-ATM network and the move is intended to ensure that customer's confidential personal data is not compromised while swiping.

Confirming, a spokesperson said that card network companies NPCI, MasterCard and Visa had informed various banks in about a potential risk to some cards in "owing to a data breach".

"Accordingly, has taken precautionary measures and have blocked cards of certain customers identified by the networks," the spokesperson said, without revealing the exact number of customers who would be affected.

The emphasised that its own systems have absolutely not been compromised and existing cardholders are not at any risk and can continue to use their cards as usual.

Meanwhile, will issue new cards free of cost to the affected customers in the incidents affecting the cards industry.

According to banking circles, several other banks have also experienced similar problems as a few ATMs have been hit by a malware which has a high potential to compromise customers data.

Official figures indicate that has over 20 crore active debit cards, besides another 4.75 crore of its associate banks.

Some private banks are conducting security review by experts of its ATM networks to pre-empt any type of breaches.

--IANS

qn/sm/vt

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

SBI blocks over half million debit cards after security risk

Following a suspected security breach, the (SBI) has blocked more than 600,000 debit cards of its customers and will issue fresh cards to them, official sources said here on Wednesday.

The malware-related security breach was reportedly detected in the non-ATM network and the move is intended to ensure that customer's confidential personal data is not compromised while swiping.

Confirming, a spokesperson said that card network companies NPCI, MasterCard and Visa had informed various banks in about a potential risk to some cards in "owing to a data breach".

"Accordingly, has taken precautionary measures and have blocked cards of certain customers identified by the networks," the spokesperson said, without revealing the exact number of customers who would be affected.

The emphasised that its own systems have absolutely not been compromised and existing cardholders are not at any risk and can continue to use their cards as usual.

Meanwhile, will issue new cards free of cost to the affected customers in the incidents affecting the cards industry.

According to banking circles, several other banks have also experienced similar problems as a few ATMs have been hit by a malware which has a high potential to compromise customers data.

Official figures indicate that has over 20 crore active debit cards, besides another 4.75 crore of its associate banks.

Some private banks are conducting security review by experts of its ATM networks to pre-empt any type of breaches.

--IANS

qn/sm/vt

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

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