MCB Summit Bank Data Hack

Pakistani banking sector is facing one of the most dreadful cyber attacks in its history where many banks have reportedly lost billions. However, MCB Bank and Summit Bank have issued categoric statements denying any breaches to their respective systems.

“In wake of a recent incident of cyber crime related to fraudulent bank transactions due to a data breach, MCB Bank would like to assure its valued customers that the customers’ data is completely safe. Not a single customer has been affected in the incident/ report publicized in media,” stated MCB Bank.

An identical statement came from Summit Bank where they said: “Summit Bank assures its esteemed customers that the bank holds all the customer accounts in complete safety and security. We are operating normally and securely without facing any cyber threats and there has been no online or card data breach.”

Moreover, both banks emphasized that they are vigilant in monitoring their online banking services and have implemented effective security measures to safeguard valuable customers.

The data breach started with a cyber attack on BankIslami where the financial institute suffered from $6 million loss, reportedly. The hacking was made possible by using the bank’s international card schemes where hackers looted money using ATMs and POS (point of sale) in different countries.

A few days back, an online cybercrime monitoring company revealed that digital stolen copies of Pakistani credit and debit cards are being posted at online dark web forums to buy. This was also confirmed by the FIA where the investigation agency asserted that almost all banks in the country have suffered and now they are just hiding the losses.

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