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<keyword id="69870" type="CITY" weightage="20" keywordseo="Hitachi">Hitachi</keyword> owns up to the malware that compromised of 3.2 million debit cards in the month of October of 2016, the audit report has confirmed that the malware that compromised the cards had infected the <keyword id="4157214" type="UNKNOWN" weightage="100" keywordseo="hitachi-atm">Hitachi ATM</keyword> payments network. In a statement to the media, Hitachi Payment Services confirmed the breach and said that they will continue to undertake all mandatory and regulatory security measures to enhance the security of their systems. "We confirm that our security systems had a breach during mid¬2016. As soon as the breach was discovered, we followed due process and immediately informed the <keyword id="6354335" type="CITY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI), National Payments Corporation of India (NPCI), banks and card schemes to ensure the safety of their customers’ sensitive data," said loney Antony, managing director, Hitachi Payment Services. 
 The report also confirmed that the malware, had been able to work undetected and had concealed its tracks during the compromise period. While the behaviour of the malware and the penetration into the network has been deciphered, the amount of data compromised during the above period is unascertainable due to secure deletion by the malware, said the report. Bankers say that the malware was so advanced that it could self destruct after the target was accomplished thereby not leaving behind much of trace to be tracked back to its originator. It was one of the biggest cyber attacks on the debit card network in the history of the Indian banking system. Of the cards, 2.6 million were said to be on the Visa and Master¬Card platform and 600,000 on the RuPay platform and the worst hit were ICICI Bank, Yes Bank, <keyword id="6355975" type="CITY" weightage="20" keywordseo="Axis-Bank">Axis Bank</keyword>, HDFC Bank and State Bank of India. SBI even went further to cancel some 6 lakh debit cards and issued them afresh to customers.

A closure to Hitachi ATM payments network that compromised 3.2 million debit cards in 2016

What happened to India’s <a href="http://www.businessinsider.in/searchresult.cms?query=atm%20cards&amp;sortorder=score">debit card</a> fraud is nothing new to the world and for that matter India as well. Each one of us would receive a message from RBI to reset the <a href="http://www.businessinsider.in/searchresult.cms?query=atm%20cards&amp;sortorder=score">ATM card</a> pin at least once in a lifetime. In the US, a similar <keyword id="608402" type="UNKNOWN" weightage="20" keywordseo="data-breach">data breach</keyword> happened at Target, a popular retail chain. It was found that data from up to 40 million credit and debit cards of those who had shopped at Target were stolen by hackers. In most cases, this kind of frauds is committed by people who won’t use the card credentials themselves. Rather they sell the sensitive information to agents who readily buy such data to sell it again to people who would transact. 
 However in India the game was different. The data breach has happened through ATM cards and was detected by <keyword id="4805341" type="UNKNOWN" weightage="20" keywordseo="Hitachi-Payment-Services">Hitachi Payment Services</keyword>, which maintains ATMs and point-of-sale terminals. This kind of <a href="http://www.businessinsider.in/searchresult.cms?query=atm%20cards&amp;sortorder=score">frauds</a> can happen using an extra "mouthpiece, (ATM skimmer), so that when you slide your card in, it first goes through the criminals' device, which skims your data, and then into the <a href="http://www.businessinsider.in/searchresult.cms?query=atm%20cards&amp;sortorder=score">ATM</a>, writes <keyword id="3775461" type="UNKNOWN" weightage="20" keywordseo="hitesh-dharmdasani">Hitesh Dharmdasani</keyword> on The Economic Times. 
 
Now we need to wait till the entire analysis is done as in how the fraudulent activity happened. That will only come next month. Meanwhile there is also a malware or a virus that affects ATM machines directly. In India, most cards are accepted by most machines, which is why a single malware can breach data across whole system in the country. 
 
How can this be prevented? No system can be made foolproof, let alone bank. <keyword id="3775460" type="UNKNOWN" weightage="20" keywordseo="dharmdasani">Dharmdasani</keyword> says, it has to be a cat-rat race where the banks need to be always ahead before the frauds reach them. For banks listed in the data breach incident recently, it is advised to ask for <a href="http://www.businessinsider.in/searchresult.cms?query=atm%20cards&amp;sortorder=score">a new debit card</a> with a new set of pins. This will cost you Rs 100- 300 but your hard-earned money is safe. 
 
From a policy point of view, the ET report says, the government should look at the laws that many countries have for cyber security compliance. If you are accepting information, you need to be held accountable for that. The stringency could depend on the nature of the organisation: whether it's a bank, a healthcare company or a retail establishment. The <a href="http://www.businessinsider.in/searchresult.cms?query=atm%20cards&amp;sortorder=score">advantage</a> we in India have is that models that exist abroad have been tried and tested for 10-15 years. We can look at those models and see what fits into our ecosystem.

Here’s what you need to do if you
are scared about the recent data breach in ATM cards

<ul><li>India's largest bank, the State Bank of India (<keyword id="13222" type="CITY" weightage="20" keywordseo="SBI">SBI</keyword>) and <keyword id="69870" type="CITY" weightage="20" keywordseo="Hitachi">Hitachi</keyword> Payments are embarking on a <keyword id="6373972" type="UNKNOWN" weightage="20" keywordseo="Joint-venture">joint venture</keyword> that will take on <keyword id="6358577" type="UNKNOWN" weightage="20" keywordseo="digital-payments">digital payments</keyword> and card acceptance platforms. </li><li>Combining the individual strengths of both, the venture will deliver payment services to the customers and merchants on Quick Response (QR) code acceptance, Unified Payment Interface (UPI) and e-commerce businesses.</li><li>Hitachi manages over 70% of SBI’s current network and this joint venture will further strengthen their partnership.</li></ul>The State Bank of India (SBI), India's largest commercial bank, signed an agreement with the Hitachi Group (Japan) embarking on a joint venture to establish digital payments and a card acceptance platform in the country. While the bank will have a majority stake in the proposed venture, according to its <a href="https://www.hitachi.com/New/cnews/month/2018/10/181029c.html">press release</a>, Hitachi is planning to invest 26% in its subsidiary SBI Payment Services. Both parties will now be proceed to apply for regulatory approvals. In India, SBI's customer base expands to nearly <a href="https://www.business-standard.com/article/finance/sbi-hitachi-form-jv-to-boost-digital-payments-card-acceptance-platforms-118102900350_1.html">420 million</a> people and is the largest merchant acquirer in the market in terms of terminals through its subsidiary, SBI Payment. So far it has managed to deploy <a href="https://www.financialexpress.com/industry/sbi-to-sell-26-stake-in-arm-to-form-payments-joint-venture-with-hitachi/1365923/">1.96 million</a> merchant payment acceptance touch points across the country. But, looking to shift that burden, SBI has initially shortlisted <a href="https://www.business-standard.com/article/finance/sbi-hitachi-form-jv-to-boost-digital-payments-card-acceptance-platforms-118102900350_1.html">three companies</a> for the joint venture — Hitachi, Worldline and First Data Corporation. Whichever company got shortlisted would then be in-charge of deploying credit card swipe machines. According to SBI’s annual report for the FY18, SBI Payment Services’ total balance sheet equity, including surplus and reserves, was reported to be <a href="https://www.financialexpress.com/industry/sbi-to-sell-26-stake-in-arm-to-form-payments-joint-venture-with-hitachi/1365923/">₹38 million</a> while the total balance sheet assets were at<a href="https://www.financialexpress.com/industry/sbi-to-sell-26-stake-in-arm-to-form-payments-joint-venture-with-hitachi/1365923/"> ₹56 million</a>. The joint venture blends the distribution network of SBI with Hitachi’s technology and services including big data, artificial intelligence, analysis and digital payments. The venture will deliver payment services to customers and merchants with Quick Response (QR) code acceptance, Unified Payment Interface (UPI), mass transit sector and e-commerce businesses. Rajnish Kumar, the Chairman of SBI, said that the penetration of payment acceptance infrastructure is still low, at <a href="https://www.business-standard.com/article/finance/sbi-hitachi-form-jv-to-boost-digital-payments-card-acceptance-platforms-118102900350_1.html">2500 Point of Sale (PoS) per million</a>. And with the new joint venture, the bank is hoping the numbers will rise. What's in it for Hitachi? Hitachi is all set to expand its footprint in the Indian market by contributing to the development of digital payments services’ business via digital payments platform in order to ensure quality and better convenience. The venture will combine the individual strengths of both subsidiaries. In a conversation with <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/sbi-hitachi-payments-form-joint-venture-for-digital-payment-platform/articleshow/66412731.cms">Economic Times</a>, Hitachi India’s Managing Director Bharat Kaushal stated that this mutually benefitting partnership with the financial giant SBI will allow the company to widen their footprint across India. Hitachi manages over <a href="https://www.business-standard.com/article/finance/sbi-hitachi-form-jv-to-boost-digital-payments-card-acceptance-platforms-118102900350_1.html">70%</a> of SBI’s current network and this decision to create a joint venture is only going to strengthen the partnership. Hitachi Payments manages over<a href="https://www.business-standard.com/article/finance/sbi-hitachi-form-jv-to-boost-digital-payments-card-acceptance-platforms-118102900350_1.html"> 55,000 ATMs</a> in India and has been providing deployment, management services and handling SBI’s digital acceptance payment network since 2011.

India's largest bank and Hitachi are teaming up to enter the country's booming digital payments space

<a href="http://www.businessinsider.in/searchresult.cms?query=hitachi+payment+services&amp;sortorder=effectivedate">Hitachi Payments Services </a>has accepted its systems were compromised by a sophisticated malware in 2016, which triggered one of the <a href="http://www.businessinsider.in/searchresult.cms?query=massive+data+breach&amp;sortorder=effectivedate">biggest cyber security breaches in India</a>. 
 
The massive security breach had affected 3.2 million cards. The <a href="http://www.businessinsider.in/searchresult.cms?query=National+Payments+Corporation+of+India+&amp;sortorder=effectivedate">National Payments Corporation of India </a>(NPCI) had stated more than 600 customers had reported losses of at least Rs 1.3 crore due to the breach. 
 <keyword id="3770748" type="UNKNOWN" weightage="100" keywordseo="hitachi-payments-services">Hitachi Payments Services</keyword>, a wholly-owned subsidiary of the Japanese Hitachi, acknowledged the breach after it received final assessment report from payments and information security audit firm SISA Information Security. 
 
In what poses more scope for worries, the company said the amount of data exfiltrated is "unascertainable due to secure deletion by the malware". 
 
"We confirm that our security systems had a breach during mid-2016," its Managing Director Loney Anthony said, adding this happened despite following adequate security measures and adopting the standards of internationally- accepted best practices. 
 
The compromise period has been identified between May 21 and July 11. It had come out in public after a slew of banks, including those not serviced by Hitachi, approached customers making either card replacements or ATM PIN changes compulsory. 
 
"Hitachi Payment Services regrets the inconvenience caused to banks and its customers due to this lapse in its security infrastructure. We assure you of our highest commitment to building a robust infrastructure in our systems and preventing such cyber frauds in future," Anthony said. 
 
Quoting the SISA report, the Hitachi statement said a sophisticated malware (a piece of malicious software code) was injected in Hitachi Payment Services' systems, which led to compromise the details of debit cards. 
 
The malware had been able to "work undetected and had concealed its tracks during the compromise period", it added.

Hitachi Payments Services owns-up to 2016 breach in India, says amount of data exfiltrated “unascertainable”

<ul><li>Unified Payments Interface (<keyword id="6358921" type="General" weightage="100" keywordseo="upi" source="Orion">UPI</keyword>) has emerged as one of the most popular modes of payments in India.</li><li>Some new changes have been announced to UPI from January 1, 2024.</li><li>Here are the new rules and features of UPI that you need to be aware about.</li></ul> The year 2024 has begun and with this, there have been some changes in the financial sector. Unified Payments Interface (UPI), the country’s fastest growing mode of payment has some new rules that you need to keep in mind. To improve UPI and improve user experience, the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) have formulated some new rules and regulations that have come into effect from January 1, 2024. In this post, we look at the five new changes in UPI that you need to be aware about – <cmsannotation type="cmsannotation" annotationid="Inactive UPI IDs" comment="subhead" text="Inactive UPI IDs">Inactive UPI IDs</cmsannotation> As per guidelines by the NPCI, payment apps such as PhonePe, Google Pay, PayTM and more are required to verify and maintain active UPI IDs. UPI IDs that haven’t been used for a year will be deactivated. So, if you have a UPI ID that hasn't been used in a long time, it is important to at least make one payment soon to avoid deactivation of that ID. <cmsannotation type="cmsannotation" annotationid="Fraud prevention" comment="subhead" text="Fraud prevention">Fraud prevention</cmsannotation> In a bid to reduce the increasing financial frauds, the central bank has reportedly proposed a 4-hour window for users making a first payment of ₹2,000 or more to a new recipient. During this window, the users will be able to modify or reverse the transaction, if they haven’t transacted with the person before. <cmsannotation type="cmsannotation" annotationid="Increased transaction limit" comment="subhead" text="Increased transaction limit">Increased transaction limit</cmsannotation> To help users making large transactions to hospitals and educational institutions, the transaction limit for such institutions has been increased from the existing INR 1 lakh to INR 5 lakh. This will make it easier for those paying large amounts to such institutions to complete their payment. <cmsannotation type="cmsannotation" annotationid="UPI ATMs" comment="subhead" text="UPI ATMs">UPI ATMs</cmsannotation> In a bid to make it easier for users to withdraw cash, NPCI in collaboration with Hitachi Payment Services has started rolling out UPI ATMs, which allow users to withdraw cash using UPI apps, without having to carry a debit card. The first ATM has already been launched and more ATMs will be rolled out across the country. <cmsannotation type="cmsannotation" annotationid="UPI for secondary market" comment="subhead" text="UPI for secondary market">UPI for secondary market</cmsannotation> NPCI’s UPI for secondary market project has entered the beta phase, allowing selected users to block funds post-trade confirmation in the secondary market. This enabled settling of funds on T 1 basis via clearing corporations. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s24-pre-reservation-starts-how-to-pre-book-benefits-and-more/articleshow/106505615.cms">Samsung Galaxy S24 pre-reservation starts – How to pre-book, benefits and more</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/new-upcoming-smartphones-in-india-in-2024-apple-samsung-google-mobiles-in-the-list/slidelist/106489936.cms">Apple to Samsung and many more – smartphones set for launch in 2024</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-hyundai-sales-rise-maruti-suzuki-reports-a-decline-in-december-2023/articleshow/106474205.cms">Mixed December – While Tata Motors, Hyundai sales rise, Maruti Suzuki reports in the slow lane</a>

UPI in 2024 – Five rule changes that you need to know

India is facing its biggest ever breaches of financial data. The breach is said to have originated in malware introduced in systems of Hitachi Payment Services, enabling fraudsters to steal information allowing them to steal funds. 
 Following this, banks are going to replace or ask their customers to change security codes. As many as 3.2 million debit cards have been hit and if you are a customer of State Bank of India, <keyword id="45123" type="CITY" weightage="20" keywordseo="HDFC">HDFC</keyword> Bank, ICICI Bank, YES Bank and <keyword id="6355975" type="CITY" weightage="20" keywordseo="Axis-Bank">Axis Bank</keyword>, you should probably speak with the bank representatives. 
 
As per various reports, Several victims have reported unauthorised usage from locations in China. Out of 3.2 million debit cards, 2.6 million are said to be on the Visa and Master-Card platform and 600,000 on the RuPay platform. 
 
Now, Payments Council of India has ordered a forensic audit on Indian bank servers and systems to detect the origin of frauds that might have hit customer accounts. 
 NPCI Managing Director AP Hota told ET, “We have received complaints from banks about debit cards being used in China which aroused suspicion. Though most of the suspected fraudulent transactions happened in the Visa and <keyword id="6368201" type="CITY" weightage="20" keywordseo="MasterCard">MasterCard</keyword> network, we thought a whole a forensic audit of the entire network will help us find out where the compromise happened.” 
 
"Besides advising those customers who we know have used a non-HDFC Bank ATM in the recent past to change (their) ATM PIN, we are advising our customers to use only HDFC Bank ATMs as we believe security controls at some of the other bank ATMs may not be at par with HDFC Bank ATMs," a HDFC spokesperson told ET. 
 
On Wednesday, 600,000 SBI debit cards were hit and the bank has now asked customers to change their PIN numbers as well. 
 
"Based on the complaints we have received, we are suspecting a compromise on the non-SBI ATM network which could include various white-label ATM service providers. Therefore, as a precautionary measure, we have blocked six lakh debit cards. We have assured our customers that there has not been any breach on the ATM network of SBI," SBI Chief Information Officer Mrutyunjay Mahapatra told ET. 
 
Banks had been receiving multiple complaints from customers about cards being used in China at various ATMs and point of sale terminals. They in turn alerted Visa and MasterCard. A forensic audit is being conducted by Bengaluru-based payment security specialist SISA.

This may be one of India’s biggest financial data breaches; 3.2 million debit cards of SBI, HDFC, ICICI, YES Bank and Axis hit

After being hit by what can be termed as one of India’s biggest ever financial security breaches, Indian banks are rebooting security systems and refunding money to the customers. 
 Around 3.2 million debit card owners of banks such as State Bank of India (SBI), <keyword id="45123" type="CITY" weightage="20" keywordseo="HDFC">HDFC</keyword>, <keyword id="42456" type="CITY" weightage="20" keywordseo="ICICI">ICICI</keyword>, YES Bank and <keyword id="6355975" type="CITY" weightage="20" keywordseo="Axis-Bank">Axis Bank</keyword> were hit after a breach was reported which is said to have originated in malware introduced in systems of Hitachi Payment Services, enabling fraudsters to steal information allowing them to steal funds. 
 
After the breach was reported, SBI had asked their customers to change the PIN numbers of their debit cards as over 6 lakh debit cards were hit. 
 
Axis Bank said some cards have been replaced and many customers have been asked to change their PIN codes. Even ICICI and HDFC Bank have followed suit and informed their customers about the same. 
 
"Banks are currently conducting detailed investigations or assessment of all the transactions where money was lost due to the financial breach," a person with direct knowledge of the matter told ET. 
 
ATMs of certain banks disbursed money on the fraudulent cards and some of these banks which are abroad, mainly in China, have reached out to the Indian banks to reimburse them the money . 
 
"Like someone has used bank A 's debit card to withdraw money from ATM machine of bank B. We will be reimbursing all the customers who have lost their money within a week, and we are talking to other banks to sort out how to reimburse or collect money from them," a banker with one of the banks hit by the breach told ET. 
 
Quite a number of customers do not have their bank accounts linked with their mobile numbers, so it is difficult to alert them of such a possible breach," AP Hota, MD &amp; CEO, NPCI told ET. 
 
Meanwhile, the finance ministry and the Reserve Bank of India (RBI) have sought for a report on how many cards were compromised and the quantum of funds siphoned off. 
 
“There has to be some clarity from the RBI on when and to what extent is the customer liable if he fails to mitigate the damage done. Right now, it is not clear who will eventually take the fall in this case," Nishit Dhruva, Managing Partner, MDP &amp; Partners told ET. 
As per various reports, the breach has mainly affected the magnetic strip ATM cards.

You Searched For "hitachi atm" and got 7 results

A closure to Hitachi ATM payments network that compromised 3.2 million debit cards in 2016

BI India Bureau

Here’s what you need to do if you are scared about the recent data breach in ATM cards

BI India Bureau

India's largest bank and Hitachi are teaming up to enter the country's booming digital payments space

BI India Bureau

Hitachi Payments Services owns-up to 2016 breach in India, says amount of data exfiltrated “unascertainable”

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UPI in 2024 – Five rule changes that you need to know

Sourabh Jain

This may be one of India’s biggest financial data breaches; 3.2 million debit cards of SBI, HDFC, ICICI, YES Bank and Axis hit

BI India Bureau

Banks are rebooting security system on a war-footing as hundreds of crores of rupees got exposed in debit card data theft

BI India Bureau

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