oppn parties Indian Credit and Debit Card Data Up For Sale On The Darkweb

News Snippets

  • PM Modi tells BJP workers that India is in for a long battle against the coronavirus and there is no scope to feel tired or defeated
  • PM Modi asks ministers to focus on exports and new areas and sectors
  • PM Modi asks ministers to prepare business continuity plan post the lifting of the lockdown
  • Corona cases in India cross 4000 and the death toll stands at 124
  • The government decides to double the testing of corona suspects from 10000 now to 20000 in the next three days
  • Flipkart assures employees that there will be no job or salary cuts due to the COVID-19 pandemic
  • Although it was obvious, but the government still clarifies that there is no need to switch off appliances and only lights need to be switched off on April 5 at 9pm after confusion in the minds of some people
  • PM Modi and President Trump decide "to deploy full strength of (Indo-US) partnership" to fight against COVID-19
  • 17 states have reported 1023 cases of coronavirus linked to the Tablighi Jamaat, which translates to 30% of all positive cases in India
  • The government says people should not use alcohol-based hand sanitizers before lighting diyas or candles on April 5
  • The railways say there is no certainty yet when services will resume after the lockdown and a final decision will be taken in the next few days
  • As coronavirus cases multiply in Assam, six north-east states seal their borders with the state
  • Power System Operation Corporation Ltd. (POCOSO) putting all systems and protocols in place at war-footing to ensure there is no grid failure due to reduction in demand on April 5 at 9 pm
  • Power ministry scotches rumours that the power grid might fail due to the 9-minute blackout called by PM Modi on Sunday, April 5
  • Centre asks people to wear home-made masks if it is absolutely essential for them to step out of homes
26 nurses and 3 doctors test positive for COVID-19 at Wockhardt Hospital in Mumbai, facility cordoned off, no entry or exit permitted from the hospital
oppn parties
Indian Credit and Debit Card Data Up For Sale On The Darkweb

By Linus Garg

About the Author

Sunil Garodia Linus tackles things head-on. He takes sides in his analysis and it fits excellently with our editorial policy. No 'maybe's' and 'allegedly' for him, only things in black and white.

In an alarming piece of news, it has been reported that skimmed data of more than 13 lakh debit and credit cards of Indian nationals is up for sale in the Darkweb marketplace called Joker's Stash. This data can be purchased and used to carry out online transactions. The data thieves skim the details of the users in various ways, the most common being when they use ATMs or POS machines.

It is most distressing that the sellers of the data are claiming to have both track-1 and track-2 data and both together can be easily used to make online transactions. The data dump has been detected by Group-IB, a Singapore-based firm that specializes in detection and prevention of cyber attacks.

That such a huge amount of data has been stolen and put up for sale clearly shows that data thieves and skimmers are operating on a large scale and an organized manner in India. This makes Indian card holders, whose number is rising exponentially as the government pushes for a cashless economy, vulnerable. Anyone of them can find their bank accounts drained or can face huge credit card bills.

The worst thing is that since the actual credit or debit card has not been stolen, the cardholder cannot lodge a complaint either with the issuer or with the police unless a fraudulent transaction is first made on the card. But that one transaction needed to lodge a complaint might drain out the savings of a lifetime. Hence, the cardholder actually does not have a remedy against such data theft without losing a huge amount of money to these fraudsters.

If the government wants a cashless economy, it has to address this issue. If people start losing money to data theft, they will stop making debit or credit cards and start relying on cash as before. It will burden the banking sector and create problems for businesses that depend exclusively on online transactions. Data thieves have become very smart and can clone mobile sim cards to get the OTP sent by issuers as the second or third step verification. Hence, additional, and hopefully foolproof, security is needed to ensure the safety of payment cards.

image courtesy:gbhackers.com