SBI calls back over 6 lac ATM cards
DSIJ Intelligence / 20 Oct 2016
If you think your ATM cards are secured, then you are wrong. A breach of some ATM branches has led to a breach of security information of various card holders. State Bank of India, the largest public sector bank has cancelled 625000 cards as a precautionary measure.
If you think your ATM cards are secured, then you are wrong. A breach of some ATM branches has led to a breach of security information of various card holders. State Bank of India, the largest public sector bank has cancelled 625000 cards as a precautionary measure.
The Bank has cleared that the customers whose cards have been cancelled will get new cards. Rectifying of the ATMs will have to be done by either the banks or independent providers. The bank will have responsibility if a customer is cheated because of no fault of his.
According to National Payments Corporation of India, which is the umbrella organisation for all retail payments system in India, about 150 fraudulent transactions might have taken place for the industry as a whole.
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