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Card user's at risk????

Here's a warning for debit and credit card users in India. Data of 1.3 million credit/debit card users is up for sale on a dark-net website called Joker's Stash. The Reserve Bank of India (RBI) too has taken notice of the theft and has reportedly sent advisory to banks across the country. Here's all you need to know about this and why you may need to go for a new card:

The hack has been discovered by Group-IB, a Singapore-based company that specialises in detection and prevention of cyberattacks.

Of the 1.3 million cards whose data is available for sale, 98% are believed to be from India.

Group-IB has not shared the names of the banks whose credit/debit cards have been compromised. 5.5 lakh cards analyzed are said to be of a single Indian bank

Though Group-IB did not reveal the source of the breach, hackers most likely acquired the card details through skimming devices, which were secretly planted on ATMs or PoS systems.

In a letter sent earlier this week, RBI has asked banks to perform a preliminary analysis of the disclosed card information to verify the correctness and genuineness of the data.

“On finding leaked data to be correct and genuine, disable and re-issue the credit and debit cards as per the bank’s policy. Monitor credit/debit transaction for the detection of frauds and misuses. Sensitise customers to use credit/debit cards in a secured manner in all modes of transactions line online, point of sale etc,” says the RBI letter to the banks.

Sources: Times of India

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