Govt seeks report on debit card breach

With over three million debit cards compromised, the government has sought a report from the Reserve Bank of India on the nature of the security breach that has affected 19 banks.

 “I have sought a report on the debit card issue. The idea is to contain the damage,” Finance Minister Arun Jaitley told reporters here.

 Finance Ministry sources said the Payment Card Industry Security Standard Council, an international organisation, is conducting a forensic audit of the breach and a report is expected by the end of this month.

 According to the National Payments Corporation of India (NPCI), as many as 641 customers across 19 banks have been duped of Rs 1.3 crore using stolen debit card data. “There is no cause for alarm. The integrity of IT system of banks is robust and whatever action is required, the government will take promptly,” Economic Affairs Secretary Shaktikanta Das said.

 According to the NPCI, the breach was suspected to have taken place at the switch level of the ATM network of one particular bank and involved about 90 teller machines.

 Preliminary reports suggest that the security breach happened between May and September this year. Das said the government was seized of the matter and reports have been called from the RBI and banks to know what exactly has happened.