2016 Indian bank data breach
2016 Indian bank data breach
The 2016 Indian bank data breach refers to a significant cybersecurity incident that exposed sensitive financial information of millions of customers from several Indian banks. Occurring in early 2016, the breach was attributed to a vulnerability in the bank's digital infrastructure, specifically involving the implementation of SWIFT (Society for Worldwide Interbank Financial Telecommunication) systems. The incident raised alarm regarding the security preparedness of financial institutions in India, leading to investigations by government agencies including the Reserve Bank of India (RBI) and the Indian Computer Emergency Response Team (CERT-In). Subsequently, this breach prompted enhanced regulatory measures and guidelines aimed at safeguarding customer data and improving cybersecurity protocols within the Indian banking sector.