Earlier today, TechCrunch has reported that the government-owned State Bank of India (SBI), India’s largest bank and the number four company in the Fortune India 500, left a server unprotected, allowing anyone to access the financial information of millions of customers including partial bank account numbers, phone numbers, balances and recent transactions. The server stored two months of data from SBI Quick, a text message and call-based system used to request basic information about bank accounts by the bank’s customers. The exact number of users that had their data compromised is uncertain, however SBI boasts 500 million customers across the globe and 740 million accounts.
In 2016, massive indian bankls were reported being breached but SBI at that time assured they were safe.
Ameesh Divatia, Co-Founder & CEO, Baffle
"Organizations must develop strategies that focus on protecting the data they collect at all times. "