One month ago an Axis bank official received a call from an engineer at Kaspersky Lab, a well know Moscow based cyber security firm. The engineer claimed some the Axis bank servers has been breached, and they had stumbled on the information in the course of a separate probe. Later Axis team found that there was an unauthorized login by an unnamed, offshore hacker. Last week Axis bank filed a report about the breach to RBI. Axis bank hacked, its true and they hired EY, the audit and advisory firm, to carry out an investigation.
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Axis Bank Hacked
Till now there is no report on data breach or fund transfers. But the bank is trying to figure out the extent of damage and if there is any data loss, most importantly, if the virus is still inside the bank’s servers.
In cyber parlance, a malware creeping into a bank’s server -with the possibility of the virus finding its way to multiple servers -is known as “lateral movement” and can pose, what is known as, Advanced Persistent Threat, or, ABT. “Such attacks,” said the system head of a large bank, “are usually the handiwork of Chinese or East European hackers. In contrast, Pakistani hackers are amateurs.”
SBI Blocking Cards
Separately, State Bank of India said on Wednesday that they have blocked cards of certain customers and was issuing new cards for them. SBI did this as a “precautionary” to avoid potential risks of those card.
The issue was not specific to SBI, the bank said.
“Card network companies NPCI, MasterCard and Visa had informed various banks in India about a potential risk to some cards… owing to a data breach,” said SBI, adding that its own systems had not been compromised.