SBI Data Leak: A probe into lakhs of records belonging to the country’s largest state-owned bank State Bank of India (SBI) has revealed that personal information of customers has been leaked. After this incident, concern has increased in the mind of the account holders. The biggest threats range from identity theft to banking fraud. People want to know if cybercriminals can use this data to get fake loans in their names. If this happens to someone, how will it be identified? What method should be adopted to protect oneself?
The case of data leak came to light on October 16
According to SBI, the bank received an alert on October 16 about the suspected data leak. The bank received this information from its threat intelligence service provider, the Defense Cyber Agency, as well as the Indian Computer Emergency Response Team (CERT-In). As soon as the alert was received, the bank immediately started its cyber security related process.
In the initial investigation, the bank examined around 3.75 lakh records. Of those, 3,897 records were found to contain customers’ personal information (PII). However, the extent of information leaked or how much it could harm consumers is still under investigation.
Can hackers get fake loans in your name?
After the news of data leak, the biggest question is about fake loans. Here it is important to understand that data leakage does not mean that anyone can easily take a loan in your name. But your personal information can make it easy for criminals to commit fraud.
For example, if someone has your name, mobile number, date of birth, home address or information related to old loans, they can use it to try to impersonate you. Fraudsters may call you pretending to be a bank official. They try to win your trust by telling your real information in the conversation. After this you will be asked for OTP, banking details or other confidential information. In some cases, criminals may even try to make fake loan applications using this information.
However, whether a loan will be approved in your name or not depends on many factors. Among these, the most important is the system of checking the identity of the bank or loan company with the information available to the criminal. In such a situation, it is very difficult to get a loan passed in your name from any bank, but your data can be misused in small companies that offer loans below Rs.
A credit report will uncover the mystery of fraud
Check your credit report from time to time to find fake loans taken out in your name. Check the report to see if any loans or credit cards appear for which you did not apply. Also, pay attention to the credit inquiries recorded in the credit report. When you apply for a loan or credit card, the lender checks your credit report. If an inquiry appears on the report that you are not aware of, you should contact the lender concerned and have it investigated.
Consumers should take these steps immediately to avoid fraud
SBI customers need to be careful after this case. First of all, check your bank account transactions regularly. Inform the bank immediately if you notice any unknown transaction. Be wary of such phone calls or messages asking you to hurry in the name of updating account, loan or KYC. Fraudsters can use your personal information to pose as real bank officials.
Do not share OTP, PIN or password with anyone. Do not trust a person claiming to be a bank official asking for this information over the phone. Also don’t install remote access app on your phone when asked by an unknown caller. If money is withdrawn from your bank account without permission, inform SBI immediately. To complain about cyber financial fraud, you can call 1930. Apart from this, a complaint can also be filed on the National Cyber Crime Reporting Portal.
