Security breach happened at ATMs of other service providers: SBI

A breach at some ATM branches has led to a breach of security information of various card holders. The country’s largest public lender State Bank of India (SBI) has cancelled 625,000 cards as a precautionary measure. Speaking to CNBC-TV18, Rajnish Kumar, MD of SBI said that these cards were used at ATMs of other service providers. SBI ATMs are completely secure, he added. The customers whose cards have been cancelled will get new cards.Rectifying of the ATMs will have to be done by either the banks or independent providers. The bank will have responsibility if a customer if cheated because of no fault of his. The banks counld counter claim the loss, which is yet to be decided, Kumar said. NPCI as well Visa and MasterCard are usually the ones who handle the network and will have to look into the breach in machines.
To avoid such misuse of information, Rajiv Anand, Executive Director, Axis Bank advises customers to alter their pin number and passwords related to their card/accounts at least once every quarter. 

For now, though, Anand says banks can only cancel and re-issue new cards to customers who have not made the necessary pin changes. Watch video for more..