Indian Banks Hit By Debit Card Security Breach

A cybersecurity issue has hit the debit card network in India with a possible compromise of the backend system of ATM operations, thus forcing several banks to replace cards or ask for changes in security codes, reports Reuters. Authorities say 3.25 million debit cards involving around 90 ATMs may have been impacted by the breach.

The matter came to light after complaints of fraudulent use of cards, prompting immediate action from network providers Visa, MasterCard, and RuPay. Sources say Hitachi Payment Services may be the switch provider that was compromised.

"Necessary corrective actions already have been taken and hence there is no reason for bank customers to panic," said A.P. Hota, CEO of National Payments Corp of India CEO (NPCI), which manages the largest shared-ATM network.

So far, 641 customers of 19 banks have complained of fraudulent use of cards involving $194,612, says NPCI.

Read the full story on Reuters.