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RBI tells banks to secure card data

The Reserve Bank of India has directed banks to ensure that the debit and credit cards data of customers is secure and investigate reports that details of some 1.3 million accounts were available online. The RBI told banks to secure customer data by performing a preliminary analysis of the leaked card information online. A report recently said security researchers at Singapore-based Group-IB had detected that card details were being sold at a price of $100 per card. There were about 51.7 million credit cards and 851.5 million debit cards in circulation in India as of August 2019. RBI has also asked banks to inform the government’s CERT-In department, which is responsible for emergency response, regarding the steps taken by them.

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