A malware breach in Hitachi’s payment systems (which power most ATMs and Points of Sale in India) has resulted in the breach, enabling fraudsters to steal information allowing them to steal funds, according to an Economic Times report.
Multiple victims have reported about unauthorized use of their debit cards from locations in China. However, so far there is little or no information regarding the location and spread of the compromised ATMs.
Around 2.6 million of the compromised card are on the Visa and Mastercard platform while 60,000 are on the RuPay platform.
The malware was apparently active for over six weeks before being detected. And during this period, about 3.2 million ATM cards were used in the Hitachi payment systems.
SBI, HDFC and Bank of Baroda have already initiated the process of replacing the cards of the affected customers. SBI, the largest lender in the country, is replacing 6 lakh compromised cards.
Since the systems in the banks themselves were not compromised, experts say replacing the cards is not strictly necessary. Customers can safely continue to use their cards with a changed pin.