WHAT IS GOING ON WITH INDIAN BANKING SYSTEMS????

Hello guys how are you all...
I'm back with exciting piece of news that will surely blow your mind.





Indian banking systems are very well known for their quality of service and maintaining a good relationship with their customers.But I guess this year is not so good for them.

What is it ??

IS IT A PART OF CYBERWAR ON INDIA???
MAY BE OR MAY NOT BE!!!!!!


In India around 3.2 million credit cards have been compromised and the worst hit by this disastrous scenario are the giants like SBI, ICIC, HDFC BANK,AXIS and YES BANK.

And as counter measure of this the banks are either going to replace or suggest the users to change their secruity.
People who are aware about this are totally baffeld and shocked and according to them this is the largest Financial data breach that ever occurred in India.

Out of 3.2 million cards 2.6 millions cards are expected to be from Master-Card and Visa and around 600,000 are from RuPay platform.

WHAT IS THE REASON BEHIND THE BREACH???

 
The main reason  of the breach surrounds around a malware that kick started the breach after it was introduced in to the HITACHI payment service systems.The role of the malware was to allow the fraudster to steal the informations from the system.Services like point of sale (PoS) and other numerous services are provided to the ATM by HITACHI.

Currently the Forensics audit of Indian bank servers and system in order to track down the fraudsters. The Forensics audits are being carried out by the Bengaluru based payments and security specialist SISA.


 According to Times Of India 600,000 debit cards will be reissued by SBI as a counter measure for a security breach caused by a malware.Chief information Officer Mrutyunjay Mahapatra told that SBI has blocked six lakh debit cards.

According to other sources the time that took the malware to infect ,detect and compromise the transaction was 6 weeks and the compromised transactions are the one that took place within this period of time.

This breach has clearly shown us that how weak our banking systems are and how vulnerable we are to a mass level data breach like this .Its high time that we take security seriously and work towards the advancement of cyber security in India.

Leaving you all amazed....

Until my next post

SAYONARA.....

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