New Delhi: The debit/ATM card frauds as detected by some of the largest banks
were waiting to happen, as India has been on the radar of the global cyber criminals who hack into the computer servers using the malware, putting the entire financial structure at huge risk, said an industry study.
According to a recent Assocham-Mahindra SSG, India was the third biggest target for these hackers after the US and Japan. “Assocham has been continuously sensitising the government, RBI and the banks against the unfolding cyber risks,” Assocham secretary general D. S. Rawat said. He said the study published recently pointed out that India has become a favourite hunting ground for global hackers and criminals. It said “There has been a sixfold increase over the past three years.”
