State Bank of India Hacked, Customers' Data Shared on Dark Web

State Bank of India (SBI), the country’s largest public-sector bank, has reported a data breach after customers’ personal information was found on the dark web, raising concerns about potential identity theft and financial fraud.

According to media reports published on October 21, preliminary investigations identified personal information in 3,897 records among approximately 375,000 records examined on the dark web.

The exposed information reportedly includes customers’ names, mobile numbers, dates of birth, email addresses, residential addresses, identification details and loan-related information.

The total number of affected customers remains unclear. Investigators have yet to establish the full scale of the breach, how the information was obtained or whether all the records circulating online are authentic and linked to SBI.

Reports indicate that SBI received alerts on October 16 from its threat intelligence provider, the Indian Defence Cyber Agency and the Indian Computer Emergency Response Team (CERT-In) regarding the alleged exposure of customer data.

The bank subsequently informed the stock exchange about the incident on October 21 and reportedly appointed an independent cybersecurity firm approved by CERT-In to conduct a detailed investigation.

However, there is currently no confirmed evidence that hackers gained unauthorised access to SBI’s core banking systems, customer login credentials or payment infrastructure.

The bank has reportedly stated that the incident has had no material impact on its core business operations, financial performance or ability to continue operations.

Customers Face Risk of Fraud and Identity Theft

Cybersecurity concerns extend beyond the exposure of personal information. Criminals could potentially use the leaked data to impersonate bank officials and target customers through fraudulent phone calls, text messages and phishing attempts.

Fraudsters may cite genuine personal details, branch information or loan-related information to make their communications appear authentic. They could then attempt to persuade customers to disclose one-time passwords (OTPs), PINs or passwords, or to transfer money under false pretences.

The possible misuse of identity information is another concern, although there is no confirmed evidence that complete Aadhaar or PAN records, signatures or copies of identity documents were exposed.

Investigators are expected to determine the source of the leaked information, the number of genuine affected customers and whether any sensitive financial credentials were compromised.