1. ATM card hack case is under control currently, says Rajiv Anand, Executive Director, Axis Bank

ATM card hack case is under control currently, says Rajiv Anand, Executive Director, Axis Bank

Rajiv Anand, Executive Director, Axis Bank said that card hack case is under control currently.

By: | Updated: October 20, 2016 5:06 PM
Reports suggest that the worst-hit of the card-issuing banks were Yes Bank, State Bank of India, HDFC Bank Ltd, ICICI Bank Ltd and Axis Bank Ltd. Reports suggest that the worst-hit of the card-issuing banks were Yes Bank, State Bank of India, HDFC Bank Ltd, ICICI Bank Ltd and Axis Bank Ltd.

On Thursday, a slew of banks will replace or ask customers to change security codes of as many as 3.25 million debit cards due to fears that the card data may have been stolen in one of the country’s largest-ever cyber security incidents. Rajiv Anand, Executive Director, Axis Bank told CNBC TV-18 that card hack case is under control currently. When asked how many Axis Bank customers were affected, he said, “The number of the customers impacted was very very small. The number was little less than 2 lakhs.”

Banking industry sources with direct knowledge of the matter said the issue stemmed from a feared breach in systems of Hitachi Ltd subsidiary Hitachi Payment Services, which manages ATM network processing for Yes Bank. “The bank had proactively undertaken a review of its ATMs and found no evidence of any breach. The bank said it continued to work with other banks and the NPCI to ensure safety and security of its ATM network and payment services,” Yes Bank said in a statement. Reports suggest that the worst-hit of the card-issuing banks were Yes Bank, State Bank of India, HDFC Bank Ltd, ICICI Bank Ltd and Axis Bank Ltd.

State Bank of India said it had blocked cards of certain customers after being informed by card network providers about a breach outside its network, and was replacing those cards as a proactive measure.

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      smithjerry
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