More than three million debit cards of the Indian banks, including SBI, HDFC Bank, ICICI, YES Bank and Axis Bank, have been compromised.
Following security breach, which is said to be one of the biggest ever breaches of financial data in India, SBI has blocked over 600,000 debit cards to avoid unauthorised transactions.
The compromised debit cards are based on Visa, MasterCard and RuPay platform.
“Card network companies NPCI, MasterCard and Visa had informed various banks in India about a potential risk to some cards in India owing to a data breach,” SBI said in a statement.
“Accordingly, SBI has taken precautionary measures and have blocked cards of certain customers identified by the networks,” SBI added.
Recently, Axis Bank said it has filed a preliminary report about a malware attack to the Reserve Bank of India (RBI) and hired EY to conduct an investigation into the security breach.
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Axis Bank said the malware was identified by the internal monitoring mechanism in time and a report was sent to the RBI.
HDFC Bank has requested its cardholders to change their PINs and do not use any other banks’ ATMs as a precautionary measure.
The banks will issue new cards to the affected customers.