Monday, 31 October 2016

SBI reissues over 6 lakh debit card

State Bank of India (SBI) has dispatched over 6 lakh new debit cards following reports of the biggest-ever cyber security breach in the country’s banking system. “A total of 95.5% of the blocked cards were dispatched by October 26. For the rest, we are trying to get their contact details because they failed to update their information with the respective branch,” Manju Agarwal, deputy MD, corporate strategy and new business, SBI, said, according to a report. Earlier, the bank officials have advised its customers not to use automated teller machines (ATMs) of other banks for the time being for safe transactions.
“Customers can also approach the branch to get their details updated and get a new card,” Agarwal added, according to a TOI report. The malware-related security breach was reportedly detected in the non-SBI ATM network, following which the country’s largest lender blocked around six lakh debit cards. According to NPCI,Rs 1.3 crore has been lost by Indian customers in this massive cyber security breach, putting as many as 3.25 million debit cards issued by various banks at risk.Data across cards are believed to have been stolen from ATMs of an Indian private sector bank that is serviced by Hitachi Payment Services.

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