RBI Directs Banks to Ensure Security of Customers’ Debit & Credit Card Data

New Delhi, October 31, 2019:

Reserve Bank of India (RBI) has directed banks to ensure the security of customers’ debit and credit card data. It also directed to investigate reports claiming data of 1.3 million accounts was available online.

RBI through its notification state that the banks should secure the customers’ data by performing a preliminary analysis of the leaked card information online.

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RBI notice dated October 29 said on finding leaked data to be correct and genuine, disable and re-issue the credit and debit cards as per the bank’s policy.

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Reportedly, security researchers at Singapore-based Group-IB found that card details were being sold at a price of $100 per card which the estimated by the group at $130 million (£100 million).

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