RBI orders probe on reports of 13 lakh credit and debit card holders being in risk
By MYBRANDBOOK
The Reserve Bank of India (RBI) has swung into action to safeguard the interests of affected Indian customers, after reports surfaced of a debit and credit card details selling online. If reports are true, this would mean a massive risk of privacy of 13 lakh Indian credit and debit card users.
RBI in a notice has told banks that they should secure the customers' data by doing a preliminary analysis of the leaked card information online.
"On finding leaked data to be correct and genuine, disable and re-issue the credit and debit cards as per the bank's policy," said the RBI notice dated October 29.
Banks have also been directed to inform the government's CERT-In department, which is responsible for emergency response, regarding the steps taken by them.
Security researchers at Singapore-based Group-IB discovered that critical card details of 1.3 lakh Indians were being sold at a price of $100 per card on dark web. The value of the leaked database has been estimated by the group at $130 million (£100 million).
"We do not disclose the names of banks, but can tell that the database held the credit and debit card dumps related to the largest Indian banks," Group-IB said in a statement, adding that it had informed authorities about the breach.
There were about 51.7 million credit cards and 851.5 million debit cards in circulation as of August, RBI data shows.
"The (RBI's) Department of Banking Supervision has sent out this letter as whenever there are some incidents the RBI alerts the banks and sends them a cautionary note which is sent to all the scheduled commercial banks," said an industry official, requesting anonymity.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
AMD Pensando driving innovation in the DPU architecture space
AMD Pensando stands out in the DPU (Data Processing Unit) market with its u
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
INFOSYS TECHNOLOGIES PVT. LTD.
TP-LINK INDIA PVT. LTD.
AMARA RAJA POWER SYSTEMS LTD.
CENTRE FOR DEVELOPMENT OF TELEMATICS (C-DOT)
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Arjun Malhotra
Arjun Malhotra, the Chairman of Magic Software Inc., is widely recogni...
ICONS OF INDIA : S KRISHNAN
S Krishnan as the secretary for the electronics and information techno...
Icons Of India : B.V.R. Subrahmanyam
A 1987 batch (Chhattisgarh cadre) Indian Administrative Service Office...
PARTNER SPEAKERS
PSU
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
NIC - National Informatics Centre
NIC serves as the primary IT solutions provider for the government of ...
GeM - Government e Marketplace
GeM is to facilitate the procurement of goods and services by various ...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - Shantanu Narayen, CEO- Adobe Systems Incorporated
Shantanu Narayen, CEO of Adobe Systems Incorporated, is renowned for h...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
