Standard Chartered Bank seems to be experiencing a serious security breach at the moment. People are said to have lost between Rs. 50,000 and Rs. 70,000 as a result of a simple security weakness that confirms online transactions without needing a One Time Password (OTP).
Habibullah Khan, cofounder of RAPTR games, reported the problem on Twitter.
According to Habibullah, many transactions occurred automatically using his Standard Chartered debit card, and money was removed from his account without any OTP verification. He claims that transactions with Apple Store or Uber occur on occasion and that he always loses money.
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