Friday, January 15, 2016

SBI denies its 'Buddy' was hacked(Jan 14, 2016)

         The State Bank of India on Wednesday denied that its wallet app Buddy had been hacked to siphon off money, and blamed telecom service providers for making it look so. ET, on Tuesday, quoted CID sleuths as having arrested seven persons for allegedly using fake SIM cards and trespassing into customer’s accounts. “There is no incidence of any breach or hacking of SBI's security systems or wallet applications,” said MK Rekhi, general manager (corporate communications), SBI, in a statement.
         “It’s an error to show a case of improper KYC authentication by telecom service providers, as hacking of wallet applications.” The statement added: “All our product and systems undergo rigorous tests before being launched and there is a system of on-going monitoring and testing, which prevents any hacking and ensures safe banking experience by our customers.”

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