Hackers attack Pakistani bank''s database

In the biggest heist of Pakistan''s history, reportedly, hackers have defrauded 5 to 6 million dollars from customers'' account of a Pakistani bank attacking its database, sources said. Sources told Business Recorder on Sunday that after security breach of payment cards data the bank management has blocked its cards payment system for international transactions. While according to some unconfirmed reports, data of more than one bank have been stolen.
After various suspicious international transactions and complaints from the customers, the (affected) bank immediately reacted and shutdown its system to stop the further transactions. The timely action taken by the bank management helped to minimize the financial loss, they added.
On Sunday night, the State Bank of Pakistan (SBP) has also taken serious action on this incident and directed all banks for immediate and further arrangements to ensure security of all payment cards in the country and monitoring of cards activity, especially overseas transactions.
Sources said SBP has issued these directives after security breach of payment cards data of one of the bank in Pakistan yesterday that forced the bank management to block its entire cards for overseas transactions. As per sources, hackers have attacked a Pakistani bank''s database and defrauding a huge amount from customers'' accounts through overseas transactions via payment cards. The bank management is evaluating the financial loss to the bank however, as per initial estimates, the amount is some 5 to 6 million dollar (Rs 700 to 800 million), but could not be confirmed by the bank official.
Previously, in December last year, customers'' information on debit cards of a leading Pakistani bank was compromised by hackers through skimming to create its clones and used to withdraw depositors'' money from various locations within and outside the country.
Similarly, source told that, hackers have stolen the data of a bank during the last week and, reportedly, some withdrawal of money outside the country. However, no spokesman or representative of the (affected) bank was available for an official version.
The State Bank Sunday night reacted and confirmed that as a result of security breach of payment cards of one of the banks in Pakistan yesterday and their unauthorized use on different delivery channels i.e. at ATMs and POS in different countries, the bank has temporarily restricted usage of its cards for overseas transactions.
The affected bank was also instructed by the regulator to issue advisory on precautionary measures to be taken by customers. The SBP has also asked the bank to take all necessary measures to trace the vulnerability and fix it immediately.
Further, State Bank has also issued general directives to all the banks to foster arrangements ensuring security of all payment cards in the country and monitor on real-time basis usage activity of their cards, especially overseas transactions.
SBP has said it will continue to assess these developments in coordination with banks and take further measures, if required. All banks in Pakistan have been asked to ensure security measures on all IT systems including those related to card operations are continuously updated to meet any challenges in future. In addition, resources are deployed to ensure the 24/7 real time monitoring of card operations related systems and transactions.
SBP has also urged banks for immediate coordination with all the payment schemes, switch operators and media service providers to identify any malicious activity of suspicious transactions. In case of any unusual incidents, banks are advised to immediately report to SBP.