Alexander Vedyakhin, First Deputy Chairman of the Executive Board, Sberbank

Russian lender Sberbank has announced a personal data breach of its credit card users thereby endangering information of at least 200 of its clients. The bank’s database is reportedly isolated and hence the possibility of an outside breach has been eliminated by the bank. The bank stated that the data leak is under internal investigation.

Sberbank held a press conference in a bid to shed light on the leak as well as the updates on the investigation. The event was attended by news agencies including RIA Novosti, Kommersant, Bloomberg, etc. They have deemed the data leak’s potential to become one of the largest breaches in the history of Russia.

Alexander Vedyakhin, First Deputy Chairman of the Executive Board, Sberbank commented at the press conference,  “We’d like to thank the media for their understanding approach and their unbiased coverage of the issues pertaining to the information security of our citizens. Sberbank is working closely with law enforcement bodies and the Central Bank of Russia to solve the crime as soon as possible. Let me take this opportunity to remind everyone of the cyber security basics: Bank employees never ask your PIN code, your SMS passwords, or your CVC code. If someone wants you to give them one, be sure it’s fraud. Never tell your PIN code, SMS passwords, or CVC codes to anyone.”

The Russian bank recently announced the launch of a new ‘Apply for Mortgage’ feature on its online mobile app in a bid to allow clients to submit mortgage applications using their DomClick service. The application aims to reduce the complexities associated with mortgage application submission, real estate search and deal preparation.

by Megha Bhattacharya
Market Analyst at IBS Intelligence