State Bank Of India (SBI) has blocked more than 6,00,000 debit cards and will issue fresh cards to customers following a suspected security breach, official sources said here on Wednesday.
The move is aimed to ensure that customer’s confidential personal data has not been compromised while swiping, after the malware-related security breach was reportedly detected in the non-SBI ATM network.
MasterCard and Visa had already informed various banks in India about a potential risk to some cards in India “owing to a data breach” has confirmed by an SBI spokesperson.
Without revealing the specific number of customers who would be affected the spokesperson said, “Accordingly, SBI has taken precautionary measures and have blocked cards of certain customers identified by the networks.”
The SBI highlighted that its own systems have not been compromised and existing card holders are not at any risk and can continue to use their cards as usual.
However, SBI will issue new cards to the affected customers in the incidents affecting the cards industry, free of costs.
Several other banks have also experienced similar problems as a few ATMs have been hit by a malware which has a high potential to compromise customers’ data, according to banking circles.
SBI officially has over 20 crore active debit cards besides another 4.75 crore of its associate banks.