The reason why a large number of banks are impacted is that Yes Bank, despite having a small number of ATMs, sees a large number of third-party transactions on its machines.
Yes Bank has undertaken a review of its ATMs, and there is no evidence of a breach or compromise. Yes Bank continues to work with relevant stakeholders, including other public sector and private banks, and NPCI (National Payments Corporation of India), to ensure utmost safety and security of its ATM network and payment services which are completely safe to use,” it said.
“The affected systems were quarantined and inspected and the cards that were exposed have been identified and each bank has taken action according to its risk management practices,” said a regulatory source.
The incident has also compelled RBI to review its reporting framework and it has asked banks to immediately inform the central bank of any suspected fraud. The information would be shared with other banks on ‘no-name’ basis so that proactive measures can be taken by the industry.
(Sourced from agencies, feature image courtesy:newsnation.in)
