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SBI considering cyber liability insurance to protect customers from online fraud
Hyderabad: SBI is actively examining taking cyber liability insurance to protect its 30 crore customers after a huge security breach in October last year hit Indian banks wherein millions of cards were compromised.Just last week Hitachi Payments Services, which runs the network of ATMs affected in India, admitted that its systems were compromised by a sophisticated malware in mid-2016. Around 3.2 million cards were affected in one of the biggest cyber-security breaches in the country and also resulted in a scare over the security of card-based transactions.
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