3.2M Bank Cards In India Likely Compromised

By   ISBuzz Team
Writer , Information Security Buzz | Oct 21, 2016 07:10 pm PST

Over 3.2 Million debit cards issued by State Bank of India, HDFC Bank, ICICI Bank, Yes Bank and Axis Bank may be compromised, The Economic Times is reporting, as a result of malware introduced in systems of Hitachi Payment Services, enabling fraudsters to steal information enabling the theft of funds. Hitachi provides ATM, point of sale (PoS) and other services. Julien Bellanger, Co-Founder and CEO at Prevoty commented below.

Julien Bellanger, Co-Founder and CEO at Prevoty:

julien-bellanger“To find the pot of gold at the end of the rainbow, hackers have to follow the money and find the weakest entry point point in the communication chain.

In this case, as in many others such as the major Target breach, the weak point is a compromised physical transaction endpoint that offers the ability to exfiltrate critical data.

With millions of entry points likes these, the only realistic defense is real-time communication of possible fraud signals among all the payment chain constituents to enable effective rapid detection and reaction.”