Millions of SBI account details leaked: report

The bank account details of a large number of customers of State Bank of India (SBI) have leaked because of the failure to secure a key server hosting the information, claimed a media report.

According to the report in Techcrunch, the bank had not protected its server with a password, “allowing anyone who knew where to look to access the data on millions of customers’ information.”
“As digital transactions continue to gain traction in India, such unprotected servers pose a great risk of financial fraud for customers,’ said the report.
It also claimed that the Reserve Bank of India had said there was a 50 per cent jump in the number of cyber frauds in the banking sector over the past year.
“Considering the explosive growth of the internet and mobile banking and the penetration of Immediate Payment Service and UPI over the last four years, the number of fraud incidents have not increased as much,” it added, however.
The report claims that the bank fixed the glitch once it was informed about it.
SBI sources claim that the bank follows stringent protocols on data security. But it is now probing reports about the leakage and will take appropriate action.