#CyberHeadlines: POS Hack
Biggest financial breach ever in India
As India’s tech industry booms, cybersecurity has been left to the wayside leading to the largest debit card breach India has ever seen. 3.2 million customer accounts were compromised, making their financial information vulnerable. This POS hack, The Economic Times reported, originated malware on the Hitachi Payment Services platform, which provides POS and ATM services, is believed to be the originator of this attack, accounting for 2.6 million of the affected Visa and Master cards. With progress and innovation driving…everything… organizations are taking security precautions as a very low priority. However, we’re seeing more and more what a high priority it needs to be.
How can India prevent these breaches?
- Private and public sectors need to work together to ensure everyone’s safety
- More widespread protocols need to be in place as the only current framework from the Council of Europe is the Budapest Convention– which is seeing limited leverage.