"India is going to witness growing activity of hackers due to the growth of outsourcing units. There is a direct nexus between the outsourcing firms in the financial vertical and the data theft," the report said.

It said the recent $45 million ATM heist, Bank of Muscat in Oman and the RAKBANK (UAE) had the Business Process Outsourcing (BPO) operations in India.

"ElectraCard Services was the company that processed prepaid travel cards for National Bank of Ras Al Khaimah PSC (RAKBANK) and Bangalore-based Enstage, which processed the transactions for the Bank of Muscat in Oman," it cited as example of the growing menace of data theft.

"ITeS based firms and securities agencies need to further upgrade infrastructure to check any incident of data theft," said Mayur Joshi, founder member of Indiaforensic.

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