Bank of Baroda data leak: 1TB customer info sold on darknet

Since the Covid-19 pandemic-induced lockdowns, there has been increased reliance on the internet to get work done, retrieve information for school projects, consume multimedia content for entertainment and, more so, for cashless transactions.

In India alone, there are close to 100 crore people who are now proficient with internet usage. However, this is also attracting online fraudsters. They are coming up with ingenious ways to breach banks to steal personal details of customers to target potential victims .

And, sometimes, they even dump several gigabytes (GB) or even terabytes (TB) of such details on the darknet and auction them off to the highest bidder.

It has become imperative for banking institutions to set up robust cybersecurity mechanisms to prevent hacking of the data servers from malware and ransomware attacks. But most financial companies, particularly state-run banks, fail in this aspect.

In the latest instance, Bank of Baroda has reportedly suffered a security breach and around 1TB of customer data has been put for sale on the darknet by hackers, reported Dark Web Intelligence on the X platform.

As per the leaked screenshots, details include personal and corporate banking records. It also has personally identifiable details such as savings and current account numbers, phone numbers, email details, Aadhaar numbers, loan applications, netbanking user IDs, NRI customer database, corporate banking services, customer support, bank's ATM-related records and more.

Srikanth Lakshmanan, software engineer and founder of CashlessConsumer, has examined the leaked data and said it has genuine information of Bank of Baroda's (BoB) customers.

Lakshmanan has flagged the issue with the Reserve Bank of India, BoB and the IT Ministry on the X platform. He believes that Triple X, data extortion and ransomware threat group, is behind the data breach. This particular team was involved in the cyberattack on an Indonesian state-run bank earlier this year.

DH reached out to Bank of Baroda for an official response.

Now, almost three days after the news broke the data breach, Bank of Baroda has issued a statement confirming the security incident.

It has acknowledged that due to an employee's lack of digital hygiene, the email account got compromised leading to the data breach.

"The matter was promptly identified, and immediate containment measures were implemented. The Bank's core banking systems were not accessed, and continue to remain secure. A comprehensive forensic investigation has been initiated, and the Bank is working closely with the relevant authorities in accordance with applicable regulatory requirements.

The Bank remains committed to maintaining the highest standards of the information security and to safeguarding the trust of its customers and stakeholders," said Bank of Baroda on X platform.

To prevent such cyberattacks, bank companies should regularly audit their official communication network and also conduct digital hygiene camps to bring awareness among their employees.

Here are tips on how to safeguard the company's network and devices from cyber threats such as spyware:

1) Never click any link shared in emails or messages sent by unknown people. Even if your friend or a family relative sends a website link showing a lucrative deal on an e-commerce website, be wary of such URLs as well. It is best to visit the official website and then look for the deals.

2) Never install apps from third-party platforms. Always download apps from official digital marketplaces such as Google Play, Apple App Store, and Windows Store.

3) Before installing an app, make a habit of reading the reviews. There will always be telltale signs of whether the app really works as mentioned in the descriptions or is just fake promises. app users will definitely tell if it is a worthy one or look for an alternative app.

4) Corporate companies should regularly conduct workshops for employees and help them develop digital hygiene.

5) Always keep software updated on all the devices you use to prevent attackers from infiltrating your network by exploiting vulnerabilities.

6) To be on the safer side, install an anti-virus app on the system.

7) Do not expose remote desktop services (such as RDP: Remote Desktop Protocol) to public networks unless necessary, and always use strong passwords for them.

8) Companies should regularly back up corporate data. And ensure the backups are isolated from the network. Make sure you can quickly access the backups in an emergency if needed.

If you fall victim to online fraud, immediately call toll-free 1930. It is run by the Indian Cyber Crime Coordination Centre, and once you the bank transaction details, they will be able to trace and freeze the mule bank accounts. Ensure you call them within one hour, as there will be a higher chance of blocking the cyber criminals from withdrawing the ill-got money.

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