Other Research Assessment

Country
Pakistan

Source
Cybercrime report

Title
Meezan Bank breach (24-30 Jan 19)

About
Data in large quantities pertaining to Meezan Bank Ltd due to compromised internal systems. Money Mules used fake cards, to either withdraw money from ATMs or buy goods, later resold by fraudsters. Data stolen was Meezan Bank credit card details.

Key findings
Threat intel company Group IB reported that records were posted in 2019 and include dump of records and PINS. They reported that collectively worth $3.5 million USD were derived from Meezan Ltd. Banks have been slow to adopt EMV cards. Bank of Pakistan issued a Jun 2019 deadline for EMV implementation across all banks, then pushed this back to end 2019. Several other banks took steps to mitigate damages; issued security alerts and either completely blocked customers dept and credit cards. Customers were sent MSM notifications about the changes.

Website
https://geminiadvisory.io/ongoing-supply-of-compromised-pakistani-payment-cards-suggests-meezan-bank-breach/