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#Cybersecurity
TechCrunch
TechCrunch
1M ago 33 views

Exclusive: Thousands of Indian bank transfer records found online

A data breach has exposed 273,000 sensitive bank transfer documents in India due to an unsecured cloud server, raising concerns over cybersecurity.
Exclusive: Thousands of Indian bank transfer records found online
A What happened
Researchers from UpGuard uncovered a major data breach involving 273,000 sensitive bank transfer documents from Indian customers, stored on an unsecured Amazon cloud server. The exposed files included personal information such as account numbers and transaction details, linked to at least 38 banks and financial institutions. The data was primarily related to the National Automated Clearing House (NACH), which facilitates high-volume transactions like salaries and loan repayments. Despite notifying Aye Finance and the National Payments Corporation of India (NPCI), the data remained publicly accessible for weeks, raising questions about accountability and security practices. UpGuard's findings indicate that over half of the sampled documents were associated with Aye Finance, which recently filed for a $171 million IPO. The NPCI denied any responsibility for the breach, stating that the data did not originate from its systems.

Key insights

  • 1

    Significant Data Breach

    273,000 sensitive bank transfer documents were exposed online.

  • 2

    Unsecured Cloud Server

    The breach occurred due to an unsecured Amazon-hosted server.

  • 3

    Lack of Accountability

    No institution has accepted responsibility for the data exposure.

Takeaways

The incident underscores the critical need for improved cybersecurity measures in the financial sector.