1.3 Million Indian Credit, debit card details up for sale on Dark Web
This is not just an accusation but confirmed with proof by Singapore based security research company, Group – IB. The research company also showed with proofs that 1.3 million Indian banks’ customer’s credit and debit cards are up for sale on the dark web.
The cards are being sold on Joker’s Stash, one of the oldest card shops in the world of the dark web, according to ZDNet. Each card is being sold for $100 and the total worth of all cards is a staggering $130 million! The Joker’s Stash is selling these card details with the advertising line “INDIA-MIX-NEW-01”.
The research company, Group –IB, has said it to be the biggest card dumps in recent years. The cards belong to multiple banks, so it is clear that not one bank was targeted or hacked. The research team said that the card details were probably extracted from the card’s magnetic strip which stores card details.
This can only be achieved if some skimming devices were installed in ATMs or PoS (Point of sale) systems. Hackers buy these details to clone the original card and use it to withdraw money from ATMs.
This is not the first time that this type of massive stealing of credit cards has happened. This year only more than 2 million American credit card details were put on sale on Joker’s Stash. Hackers targeted companies like Walmart, British airways, Lord & Taylor, etc. and gained cards details in the data breach.
Mostly the card details are stolen from Point of sale where customers use their cards for payment. Hackers even mention it from where they get these details and which companies were targeted.
The Joker’s Stash has become one of the popular places for card dumps and till now millions of card details have been put on sale.
RBI asks banks to probe into the data breach
After the case came into the limelight, RBI asked Indian banks to probe into the alleged hack. The research company Group –IB didn’t close the bank names whose data was compromised to the public but they did inform the banks and authorities.
India is seeing a digital boom in the banking world with more and more people using cards for the transaction. This news may put fear in the customer’s brain about the privacy and security of their financial transactions.