Country’s largest bank and commercial lender State Bank of India, has now advised its customers to use the bank’s own ATM network after the reports of major security breach of about six lakh debit cards issued by the bank.
The Bank advised to use SBI’s ATM network only as a pro-active measure. Meanwhile, the bank is also aiming at replacing around six lakh debit cards within two weeks.
Reports suggested that the Hitachi Payment Services were infested with malware that helped the cyber attackers to lift personal information from the cards (once you swipe to make your transaction) thereby releasing all the personal details to make fraudulent transactions.
For the Bengal circle the bank is aiming at disbursing Rs 1,000 crore towards retail credit during the festive season. To avoid any future instances of fraudulent practices, banks have been alerting the customers about the breach by asking them to change the security PIN or even replacing the cards.