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Debit, Credit Card Holders At Risk: Here's All You Need To Know

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The data of 13 lakh debit/credit card holders is up for sale on a dark-net website 'Joker's Stash' and as it is believed that of the total cards hacked 98% belong to Indians, we need to be absolutely cautious. The theft has even come to the notice of the Reserve Bank of India and as reported it has issued advisory to banks across the country.

Debit, Credit Card Holders At Risk: Here's All You Need To Know
 

Here are the key facts on the incident you should know:

The theft of data of debit/credit cards has been unearthed by a Singapore-based company Group-IB that is engaged in the task of probing and preventing cyber attacks. The company has not revealed name of the banks whose debit or credit cards have been hacked. Nonetheless, it has been made known that 0.55 million cards belong to one banking entity from India.

Hackers have most likely got card details through skimming which involves secret installation of skimming devices on ATMs or PoS terminals.

The data on credit card is currently up for sale for $100 each or approximately Rs. 7500 per card.

Earlier in the week, RBI directed banks to carry out groundwork and tally the data on disclosed card with the actual for the purpose of verification of the genuineness of the data.

In the letter RBI said, "On finding leaked data to be correct and genuine, disable and re-issue the credit and debit cards as per the bank's policy. Monitor credit/debit transaction for the detection of frauds and misuses. Sensitise customers to use credit/debit cards in a secured manner in all modes of transactions line online, point of sale etc". If the leak is found to be true banks have been asked to block or disable hacked card and re-issue debit or credit cards as per the bank's policy.

GoodReturns.in

Story first published: Saturday, November 2, 2019, 13:15 [IST]
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