India’s biggest financial fraud in Hitachi’s payment systems has led to leakage of 3.2 million debit card details according to a report by Economic Times. Nobody is sure about the culprit behind this but this is easy to crack mission and the biggest financial fraud ever for India.
Around 2.6 million are on the Visa and Mastercard platform while other 60,000 are on the RuPay platform. The banks that fall in this breach are HDFC, ICICI, Yes bank, Axis bank and SBI. This breach was detected after 6 weeks and when the users complain about the unauthorized user accessing their debit cards. However, banks like HDFC and SBI have already warned their customers to stop using the non-HDFC bank ATM and to change their ATM pin. State Bank has already blocked six lakhs debit card and is going to reissue 60,000 debit cards.
Just by incorporating a malware in the Hitachi’s payment system, it enabled the culprit to steal all the details of the card members.
The Payment council of India has ordered a forensic audit that will be conducted by Bengaluru-based payment and security specialist SISA to investigate the origin of the attack and gauge the damage caused.
The whole of India is tensed due to such situation as this has created a lot of financial problems and we hope the culprit behind this will be out soon and should be charged penalty and punished for doing such harmful deed.
Technology has made the man perform such activities and put everybody’s life at risk. We are grateful to the technology world for making our lives simpler and easier with the new kind of technologies coming up but when the situation like leakage of information takes place, we curse the technology at the same time.
This article has been contributed by Vidhi Puri.