No need to panic over the feared security breach
No need to panic over the feared security breach:- While, promising a swift action on the debit card data compromise issue, Economic Affairs Secretary Shaktikanta Das has today said that there is no need to panic over the feared security breach that has till now affected over 32 lakh cards.
The government has further sought a detailed inquiry report into the issue and appropriate action would be taken once it is received.
“Customers should not panic because these hackings are done through computer and trail can easily be reached… they should not be alarmed. Whatever action has to be taken, it will be done with speed,” Das assured on the sidelines of a German government event here.
In the biggest-ever security breach which has affected the Indian banking sector, 32 lakh debit cards of various private and public sector banks are feared to have been ‘compromised’ by a cyber malware attack in some of the ATM systems.
SBI ask customers to change ATM-PIN
Several banks, which includes the state-owned SBI, have recalled a number of cards while many others have blocked the ones which were suspected to have been compromised and asked their customers to further change PIN (personal identification number) before use.
These fraudulent withdrawals have been reported from as such 19 banks so far while complaints have been received from a few banks that their customers’ cards have been used fraudulently abroad, mainly in the US and China while the customers were in India.
Yesterday, department of the financial services Additional Secretary G C Murmu said that only about 0.5 per cent of the total debit card details have been compromised while the remaining 99.5 per cent cards are still completely safe and bank customers should not panic.
There are around 60 crore debit cards which are operational in India, of which 19 crore are indigenously developed by RuPay while the rest are Visa- and Master Card-enabled.
The umbrella body of all the retail payments system in India — the National Payments Corporation of India — yesterday said all the affected banks have been alerted by the card networks.
Of the 32 lakh cards which are affected due to the malware function, 6,00,000 were RuPay enabled ones.
Complaints of the fraudulent withdrawals have come from around 641 customers and the total amount involved is Rs 1.3 crore as per the reports by various affected banks, NPCI said in a statement.
Talking about India-Germany relations, Das said various development agencies from Germany have committed 1.1 billion euro to be spent over the next year.
Funding is being done in the area, which is a priority for the government like renewal energy, Clean India and Clean Ganga, he further said.
This security breach has definitely raised many eyebrows towards India’s reputation, as the country is a cash economy and this security glitch has brought the people in a state of doubt, whether to trust national banks or not.