Days ago, news flashed with the emergence of a malware which affected 3 million bank credit cards, somehow withdrawing the name of users and using it for transactions. Reported as the biggest security breach in India, it created a buzz among the users to fear any further transactions they do online.
So what was this scam all about?
According to the reports, Hitachi Payment Services were compromised leading the criminals do fraudulent transactions at their ease. It was also said that breach might had happened at Yes Bank, creating issues for the other banks too. Though the firms deny about being their servers compromised, it was in the news that anyone in the area using Yes Bank Atm’s risk their identities.
Already all of us had now or then received calls asking for the details of our credit cards in the form of some wrapped offers. But beneath the wrappers, intention lies to steal the details and make use of it at their pleasure.
Cases of cloning of cards can be seen online. A case was reported on 3rd April 2011 which reports that Rs 67270 was withdrawn with the cloned cards. Not one but two clones were made for that card. Cyber attacks have grown and every cardholder’s patience stands on the brink. Over 2 months, Axis bank, HDFC banks bad requested their users to change their passwords frequently. Several instances of fraud involving lakhs of rupees have been reported from Kerala in recent times, for an international group was arrested for interrogation. Ethical hackers are the real culprits who have always tried to do out of the box thing, turned to the criminals when they used it to hack identities and bank balance, for every now or then, we receive texts from either the Police Department or from the banks for the same.
So, where does the cure lies?
The cure lies in securing the identities of the users and making the server more protected, for any criminal could not have the potential to breach the security. The world is online 24*7. Every process what was earlier done by the other way had now been evolved to be done online. Laws should be strict against the ethical crimes. As for the customers, they do need to change their security details with more frequency and to avoid and report cases relating to the above.