SBI Alerts Customers After Cyberattack Exposes 3,897 Accounts on Dark Web

The State Bank of India (SBI) has taken immediate action following a cyberattack that compromised personal data belonging to nearly 3,900 of its customers. On Friday, the bank announced that it had reached out directly to affected individuals via email and WhatsApp to inform them about the breach, which occurred earlier in the week.

The cyber incident, reported on Wednesday, resulted in about 375,000 customer records ending up on the dark web, with 3,897 of those records containing sensitive personally identifiable information. This alarming breach raised concerns about customer privacy and financial security, prompting SBI to respond to the situation promptly.

In its official communication, SBI reassured customers that their account balances and funds remain secure, urging them to adhere to best practices for digital banking. The bank emphasized the importance of safeguarding sensitive information, advising users to never disclose their One Time Passwords (OTPs), Personal Identification Numbers (PINs), or passwords. Customers were also cautioned to remain vigilant against potential phishing attempts, which could come in the form of suspicious phone calls, messages, or emails.

This latest incident is not isolated; in July, data from the Bank of Baroda, a state-run bank, was similarly leaked to the dark web, highlighting a growing trend of cyber threats facing Indian financial institutions. The Reserve Bank of India (RBI) has consistently warned banks about cybersecurity vulnerabilities that could jeopardize the stability of the financial sector, urging them to enhance their defenses against such attacks.

The Internet Freedom Foundation, a digital rights organization, played a pivotal role in drawing attention to this breach, noting that while SBI notified stock exchanges about the incident, it initially did not inform the affected customers. The bank’s swift communication following these concerns marks a critical step in maintaining customer trust amidst growing apprehension surrounding data privacy in the banking sector. As digital banking becomes increasingly prevalent in India, the emphasis on cybersecurity and user awareness is more crucial than ever.

Source: scroll.in