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Updated: Axis Bank and SBI confirm security breaches: reports

Update: Axis Bank sent an official statement about the development: Many large financial institutions across the globe, often receives security threats from various sources. Axis Bank has strong security systems and procedures in place. We have a large team of IT professionals and security experts who are constantly monitoring our systems, and mitigate any threat. Integrity of our systems and confidentiality of customer information are of paramount importance to us and we vigorously combat all potential threats and neutralize them. As a responsible financial institution, we proactively communicate potential threats to the regulator to maintain broader systemic integrity. Our internal monitoring mechanism identified such a threat recently and all steps have been undertaken to neutralize the same. We stay committed to our customers and it is always been endeavor to ensure that the customer’s interest are always protected. Earlier: Axis Bank, the third largest private sector bank, has hired  audit Enrst and Young to investigate a security breach in its servers, reports the Economic Times. A month ago, the bank got a call from security firm Kaspersky Lab who said that their servers may have been breached. An independent probe confirmed an authorized entry by an offshore hacker, the report added. The publication added that there were no funds transferred and but the bank and Ernst and Young are still trying to figure out the extent of the damage and if there were any data loss. The bank is also sweeping its servers to see if the infection is still…

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