450,000 Credit Card records compromised

Can someone please advise how does this happen. How do 4.5 lakh credit card records of Indians get compromised. Did the hack happen from an overseas server or an Indian server. Who is responsible and accountable. Government, Bank, Tech Provider. Shouldnt the bank be penalised and made to compensate every consumer whose info was compromised. more  

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I don't trust the veracity of the news item. I am using Citibank Credit card for last 28 years approximately and paying the monthly bill mostly punctually using internet banking at least for the last 10 years. The payment data in different formats will be certainly available without the name of payee (Payment is made to the card) with the payment interface and including name with the paying and receiving bank. Regrettably, in spite of repeated fear mongering, I am yet to come accross neither any bank complaining loss of such data nor the interface complaining. Unless the name, account number and the IFSC are simultaneously available, such data is of no use for any fraudulent mind/s and such an eventuality is highly unlikely. As some one else has commented, it is quite easy to find fault with our own resources but it should be kept in mind, that resources world wide are being created mostly by Indian software experts. more  
Other countries will treat people's personal details with security and take measures to punish the banks. In our country, Government is controlled by big corporates and It will take any actions against them. Every time , people is going to suffer. more  
Every time any such fraud takes place, the banks first go all out to blame the customer : it is your money and you find out where it has gone and then approach the bank. In our craze for going digital, people are forced to choose digital transactions without a secure system. Our banks have a reactive system instead of proactive. more  
There exists a company/institution in America which does a lot of research on similar matters and predicts dangers that might suffocate our lives and living.

It wasn't more than two/three months ago that this very company sent out a video with the prophesy that in the not too distant future the world was going to face the problem of computer hackings on a sparingly large scale. The news item posted by Ms Harsimran Kaur may be just the beginning of the impending landslide.

"How to protect oneself against this virus?", is a million dollar question. At least, I don't have any answer to that as yet. more  
I agree with Sarita Ravichandran. In our country, an irresponsible system is working and it will continue in future even with more force. In this field, we are helpless. more  
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