You are here: Home » Finance » News » Banks
Business Standard

Data breach: 73 SBI cardholders reported fraud withdrawals

SBI has informed that it has blocked about 6 lakh cards, MoS for Finance Santosh Kumar Gangwar said


Press Trust of India  |  New Delhi 

A man counts money after withdrawing it from a State Bank of India ATM in Mumbai, India. Photo: Reuters

As many as 73 cardholders of the country's largest bank State Bank of India had reported fraudulent withdrawals aggregating Rs 39.18 lakh till November 4 following data breach that hit millions of debit/ATMs.

State Bank of India has informed that it has blocked about 6 lakh cards, Minister of State for Santosh Kumar Gangwar said in a written reply in Rajya Sabha.

"has also informed that 73 cardholders have complained about claims aggregating to Rs 39.18 lakh up to November 4, 2016," he said.

The state-owned lender said however that its "systems" are robust and its debit cards are not at risk.

The Reserve Band had earlier said it came to its notice on September 8 that details of certain cards issued by some had been possibly compromised at ATMs linked to the ATM Switch of one of the service providers.

About 32.14 cards of public and private sector was breached. Following the data breach, 19 had recalled the compromised cards.

Replying to several related questions, Gangwar said that RBI has informed the matter was under investigation.

Independent investigation by a forensic auditor approved under Payment Card Industry Data Security Standard (PCI-DSS) framework is under process.

RBI has been carrying out IT examination of banks from 2015.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, November 22 2016. 15:13 IST