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Details of 1.3 Million Indian Payment Card Up For Sale On Dark Web

In case you are addicted to online shopping or any other digital payment mode, here’s a damning development that may change the way you use your bank card on World Wide Web. A latest report by the IANS says that bank details of nearly 13 lakh Indians have been put up for sale on dark net. According to a Deccan Chronicle report, s Singapore-based company discovered the massive database of debit and credit cards of around 133 million Indians. The IBA Group that unearthed the database has dubbed it as India-Mix-New-01. The entire file is available on dark web running into two volumes. What’s worst is that this breach of privacy is being sold on dark net. Each card detail is up for sale for as low as Rs 7,000. It translates into one of the most valuable database available on dark net. Underground card shop known as Joker’s Stash ohas been selling the payment details since October 28.

Since the fraud has been detected recently, details of banks and customers are not available as of now. Experts say that the bank details were stolen by fraudsters well-known modus operandi of card skimming.

According to an RBI report, the banking sector lost a total of Rs 168.74 crore to organised crime directed at ATMs in the past three years. This includes figures for the first quarter of FY19. Between April and June 2018, 261 incidents were reported, entailing a loss of Rs 18.85 crore to banks.

For the financial year ended March 2018, the maximum number of untoward incidents in banks and ATMs was reported in Bihar. Financial institutions lost Rs 3.35 crore from a total of 147 incidents. Security is also lax in Delhi and Haryana, where 53 and 49 ATMs were targeted, resulting in the loot of cash amounting to Rs 2.25 crore and Rs 3.34 crore respectively.

In 2018, a survey by global agency FIS had said that Indians are among the most frequent victims of online frauds in the world. The survey said that 18% Indians have experienced online banking fraud, which is highest in the world. In 2017, BJP Minister Ravi Shankar Prasad had said that there were over 25,800 cases of digital fraud in India in 2017.  

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