SBP Takes Notice of ATM Hacking Incidents

State Bank of Pakistan has taken notice of the ATM skimming incidents. Recently it was reported that on HBL Debit Cards the user information was compromised. Hacker had created its clones and was using them to take money out from different localities within and outside of Pakistan.

Now SBP was in talks with HBL management discussing the losses, the procedure to return the money to the affected users and measures necessary to control such incidents.

HBL had taken immediate action after the incident. The bank blocked all debit cards recognized to have been misused.

Till now 296 users have confirmed that there have been transactions from their accounts by hackers. The bank has faced almost Rs 10.2 million loss for their customers.

HBL has started to return the money of those affected by this major issue. Efforts are made to compensate the losses of those customers as well as those who were members of other banks but used HBL ATMs.

Chief Marketing Officer-HBL Naved Asghar said that the affected customers would be compensated. They lost less than rupees ten million amount. He stressed that the bank is investigating and would be compensating the ones who have lost their money because of the attack. He added that all the ATM machines are checked for bug and rechecked to ensure that the bug is removed. He said that we assure our customers that there is nothing to worry about anymore.

Must read: Hackers stole $31 million in Bitcoin

SPB has issued guidelines to ensure such fraudulent transactions can be avoided in future. Banks will have to create and implement comprehensive regulations for security of cards, analyze risk factor and implement methods to control it.

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