Banks Ensure High End Security to Prevent Future Fraudulence


BENGALURU: While many of us believe that banks and ATM’s are the best form of security but then the recent security breaches will make one think twice about the same. Indian banks are annoyed with the largest ever breaches of financial data in the country. However, customers of SBI, HDFC Bank, ICICI Bank, YES Bank and Axis Bank have agreed to replace their cards or request them to change their security codes.

According to The Economic Times, the banks have further agreed to refund the affected customers. Commenting on the data breach, the SBI has claimed that the SBI’s robust systems are absolutely secure and do not in any circumstances witness any security breach. It has even assured customers to continue using their debit cards securely.  While talking about the affected customers, SBI has also initiated the process of issuing new card to the customers whose all cards have been blocked.

The ICICI Bank has proclaimed that the possible breach of information in debit cards would have triggered cause of other banks ATM networks.  The bank has taken necessary steps for changing the PINs of debit cards at the ATMs of that bank as a precaution. HDFC bank on the other hand advises customers to use only the HDFC Bank ATMs as the bank believes that the security control of other banks might not be in par with HDFC Bank ATMs.

In addition, Axis Bank has actively requested the customers to change their debit card PIN number and also believe that the cause of the problem would have aroused due to the use of non Axis Bank ATMs. Considering the statement of the NPCI, the complaints of fraudulent withdrawal is limited to the cards of 19 banks and about 641 customers.

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