RBI asks fintech firms, digital payment cos to ensure responsible innovation
RBI Governor Sanjay Malhotra on Thursday asked fintech firms and digital payment companies to ensure responsible innovation and better compliance.
Reacting to the 1.3 million users’ credit and debit cards data leak on the dark net, the Reserve Bank of India (RBI) on Thursday asked banks to ensure that their customers’ details are safe.
Referring to the article published online portal—ZDNet on Tuesday, the RBI asked banks to secure their customers’ information by performing a preliminary analysis of the leaked card data online, a Reuters article quoted the RBI notice issued to the banks.
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As per ZDNet report, researches at Singapore-based Group-IB had found that the leaked data was being sold at a price of $100 per card.
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The value of the dumped information on the Joker’s cart on the Dark Net has been estimated by the group at $130 million.
As per media reports, Group-IB has stated that some of India’s largest banks’ data were dumped online.
Meanwhile, banks have been asked to inform the CERT-In department of the government. The branch is responsible for emergency response, regarding the steps taken by them.
(With input from agencies)
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