ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • India
    • Economy
    • Politics
    • Markets
  • World
    • Economy
    • Politics
    • Markets
  • Companies
    • Auto
    • Banking & Financial Services
    • Pharma
    • Energy
    • Infrastructure
    • Media
    • IT
    • Telecom
    • Consumer Products
    • Aviation
    • FMCG
  • Personal Finance
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
  • Mutual Funds
  • Technology
  • Automobile
    • Cars
    • Bikes
  • Small Business
    • SME
    • Startups
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
    • AUTHORS
Home » Personal Finance News

SBI data leak: This is how you can protect your bank account, money from hackers

While SBI is yet to shed some clarity on this new appalling development, as a customer one should adopt a precautionary method to protect their money and bank account.   

  • Twitter
  • Facebook
  • GPlus
SBI data leak: This is how you can protect your bank account, money from hackers
A Mumbai-based data centre had stored two months of customers bank account data from SBI Quick which is a text message and called-based system. Photo: Pixabay
By Pooja Jaiswar
Updated: Thu, Jan 31, 2019
01:48 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Should you opt for bank lockers? Know how your jewelry, papers, money are kept in banks and what SBI, HDFC Bank, Axis Bank, BoB charge Should you opt for bank lockers? Know how your jewelry, papers, money are kept in banks and what SBI, HDFC Bank, Axis Bank, BoB charge
Want a home loan? This is what SBI offers you under PMAY 'Housing for All' scheme Want a home loan? This is what SBI offers you under PMAY 'Housing for All' scheme
SBI online transactions: How to open State Bank of India account at onlinesbi from home SBI online transactions: How to open State Bank of India account at onlinesbi from home
SBI online transactions: How to open State Bank of India account at onlinesbi from home SBI online transactions: How to open State Bank of India account at onlinesbi from home
Is the worst finally over? This is where your bank is headed - Analysis for investors Is the worst finally over? This is where your bank is headed - Analysis for investors

In what comes as a shocker, data of millions of State Bank of India customers was leaked! A TechCrunch media report claims that SBI failed to protect financial credentials of its customers. This comes as a cause of concern to not only SBI but its bank account holders, considering it caters to a wide population in India. This government-owned lender is the largest bank in the country, and is referred as ‘Too Big To Fail’ by RBI. 

The report claims that a Mumbai-based data centre had stored two months of customers bank account data from SBI Quick which is a text message and called-based system. It said that SBI did not protected the server with a password, and hackers have used this gateway as their mean to hack millions of bank accounts the lender holds.

As per the report, it was not known for how long the server was kept open without a password, but long enough for anyone to access it. 

With this, the unanimous entities or individuals have hacked customers phone number, address, account numbers, balance transactions details among others. For your information, cracking a phone number and account details is more than enough to snatch your money from bank account. The SBI Quick is a SMS and cell based service, hence, they can request your balance information and follow a transaction easily.

Cybersecurity expert Robert Hannigan, formerly the head of GCHQ in a recent McKinsey Podcast in regards to How Organisations can thwart Cyberattacks, said, "If you look at the two big trends, the rise in volume of attacks and the rise in sophistication, they are both alarming. On volume, particularly of crime, there were something like 317 million new pieces of malicious code, or malware, [in 2016]. That’s nearly a million a day, so that’s pretty alarming."

Hannigan explans that, on the sophistication, we’ve seen, particularly, states behaving in an aggressive way and using very sophisticated state capabilities and that bleeding into sophisticated criminal groups.

While SBI is yet to shed some clarity on this new appalling development, as a customer one should adopt a precautionary method to protect their money and bank account. 

#BudgetKiPaathshaala में समझिए क्या होता है अंतरिम बजट वरिंदर बंसल से अनिल सिंघवी के साथ।@AnilSinghviZEE @varinder_bansal pic.twitter.com/5xjgl8QurU

— Zee Business (@ZeeBusiness) January 31, 2019

Generally, if a bank account has been hacked using your debit card, phone number, user name, password or PIN, one should expect a bank to bear the burden. However, this is a long process, most cases you will not recover the entire amount or none to be accurate. 

Considering this was a server based hacking, what you need to do is first remember every internet source where you have accessed your financial credentials. This can be your laptop, computer, office PC, mobile phone, etc. 

Scan and clean your internet access device and add an antivirus. This will help get rid of rootkit or keylogger.

If you have received a message about an unauthorised transaction, then immediately contact your bank and block your debit card, credit card even account for some period. 

One of the safest way is to immediately reset your password, pin, security question and answers. 

Also, verify your contact details such as address, phone number. 

RBI has given guidelines for reporting an unauthorised transactions. In the central bank’s case, when such situation derives, then there is zero liability on the head of customers if they report the matter within 3 days time to the bank, which the latter have to bear. If there is delay in reporting, then customer falls under to bear some burden. 

If the transaction is massive, then not only report to your bank but also file a complaint with a nearby police station. 

To make sure there is no such scenario again in future, some methods can be followed. For instance, create a very strong password having a mix of caption alphabet, small alphabets, key signs and numbers. Do not keep your password relating to your birth date, mobile number, friends or spouse or family names - these are easily accessible. 

Make sure to have a two-way authentication process. For instance, when an unknown person logs into your account via separate computer and laptop, then you will receive a message for access. Make sure you request this procedure through both email address and mobile number, hence, you will be aware about any suspicious transaction. 

Most likely, try using a one medium for carrying out any transactions. For instance, your banking app trying avoiding too many portals and accessing your account. 

Be vigilant enough to check your bank balance, credit score, transactions in your bank account frequently in a month. 

Thereby, if you are an SBI customer or any other bank account holder, remember the above mentioned steps to secure your money from hackers. It is rather be wise, then cry over loss! 

 

TAGS:
SBIState Bank of India
RELATED NEWS
Should you opt for bank lockers? Know how your jewelry, papers, money are kept in banks and what SBI, HDFC Bank, Axis Bank, BoB charge Should you opt for bank lockers? Know how your jewelry, papers, money are kept in banks and what SBI, HDFC Bank, Axis Bank, BoB charge
Want a home loan? This is what SBI offers you under PMAY 'Housing for All' scheme Want a home loan? This is what SBI offers you under PMAY 'Housing for All' scheme
SBI online transactions: How to open State Bank of India account at onlinesbi from home SBI online transactions: How to open State Bank of India account at onlinesbi from home
SBI online transactions: How to open State Bank of India account at onlinesbi from home SBI online transactions: How to open State Bank of India account at onlinesbi from home
Is the worst finally over? This is where your bank is headed - Analysis for investors Is the worst finally over? This is where your bank is headed - Analysis for investors

LATEST NEWS

RRB NTPC Recruitment Notification 2019: Check salary, qualification, application fee, age limit, reservation details for 1.3 lakh posts

Experts explain: Why VPF is a good investment option for retirement planning

Loan against LIC policy: Get money fast at very low interest rate

HDFC National Pension System calculator: How much you can get with Rs 2000, Rs 5000, Rs 10,000, Rs 12,500 per month investment

Gully Boy box office collection: Ranveer Singh-Alia Bhatt film enters Rs 100-crore club

Buffett appears to fault Trump, laments M&A dearth in Berkshire shareholder letter

Oppo plans USD 1.5 bn investment in R&D with focus on 5G; to ramp up India hiring

Philippine central bank governor Espenilla dies

India's Forex reserves rises by over $150 mn

Uri: The Surgical Strike box office collection silences this record of Sunny Deol's Gadar - Ek Prem Katha, Baahubali 2

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • Amazon Prime Day
  • Income Tax
  • Bharti Airtel
  • NPA
  • Home Loan

Trending Topics

  • Farm Loans
  • 7th Pay Commission
  • Sanitary Pads
  • National Stock Exchange
  • GST

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved