Feb. 21, 2017
In late 2016, Indian media outlets widely reported an ATM malware attack that compromised between 3.2 million and 6.5 million debit cards from several of the nation's largest banks, including State Bank of India, HDFC Bank, ICICI Bank, Yes Bank and Axis Bank.
It has now been determined that the source of the ATM malware infection was Hitachi Payment Systems. In mid-2016, the company's network servers suffered a breach in that went undetected for nearly two months according to a finextra report.
Although the monetary damage from the breach was relatively limited — involving 641 customer accounts to the tune of $194,600 — banks were obliged to replace millions of cards and their customers were subject to blocked payments internationally and reduced ATM withdrawal amounts, the report said.
Hitachi Payment Systems has acknowledged it was the source of the breach and said in a statement it "regrets the inconvenience caused" by the incident, and has promised to provide "a safer system for financial transaction processing."