Banks have often been subjected to cyber attacks by hackers who leave behing financial carnage. Recently Axis Bank was attacked. Here is all you need to know about it.
It is India's third largest private bank and Axis Bank is often looked up to with utmost faith and dependability by its users. But just hours back, Axis Bank announced that it was subjected to a harsh and seemingly unforeseeable cyber attack by hackers.
In the immediate aftermath of the Axis bank coming under a scathing attack from its hackers, the bank officials instantly reported the incident to the Reserve Bank of India, without any delay.
One of the pioneer firms in the domain of internet security and software, Kaspersky raised the alarm about Axis Bank being subjected to a cyber attack. A researcher working with Kapersky informed Axis bank about the cyber attack whilst the Russian firm was working on another incident, when they found enough evidence to suggest that one of Axis Bank's systems had been compromised
Axis Bank instantly investigated the claim once informed by Kaspersky and confirmed the intrusion, which was in the form of an unauthorized intrusion made into the bank's security facility from an IP address outside of India.
Breathing a sigh of huge relief, Axis Bank was glad to inform the media, that they had already begun to run a check on security and nothing had been found to suggest the hacker compromised internal bank systems or made any kind of illegal funds transfers.
In the recent months, as many as 600,000 debit cards of SBI used at non-SBI ATM units came under an intense attack and had to be, blocked in the wake of providing safety to users' money.
One reckons if this is what happened to India's largest bank (SBI), then how would other banks secure and safeguard themselves against unprecedented and unwanted attacks such as the one that Axis just suffered. The what-if in this situation is truly scary.
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