A concerning trend has sent shockwaves across cybersecurity authorities, with central cyber and intelligence organisations tracking and documenting large-scale data leaks perpetrated by bank staff and third party contractors.
According to a senior Indian government official, the issue has been raised to the highest levels of government, prompting an emergency meeting at the Ministry of Home Affairs (MHA) a few weeks ago to develop a resolution. The government agencies have determined that unlimited access to critical banking data, granted to staff and third-party vendors, is directly supporting rampant cyber fraud and significant financial losses among citizens.
“The exposure of highly sensitive banking data to employees, particularly outsourced staff and third-party vendors, is leading to severe information leaks. Cybercriminals are exploiting this breach to systematically target and defraud citizens,” a top government official stated.
What is more concerning is the potential involvement of high management-level bank executives. Intelligence agencies officials at the meeting sta
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