Exclusive: India found cybersecurity lapses at National Payments Corp in 2019 - government document

A government audit of India's flagship payments processor last year found more than 40 security vulnerabilities including several it called"critical" and"high" risk, according to an internal government document seen by Reuters.

The NPCI said in a statement to Reuters it is regularly audited in the interests of security and senior management reviews all findings, which are then"remediated to satisfaction of the auditors". This includes the findings cited by Reuters, it said. The audit's findings underscore the data-security challenges faced by the NPCI which processes billions of dollars daily via services that include inter-bank fund transfers, ATM transactions and digital payments.

RuPay, in particular, has been enthusiastically endorsed by Modi who has likened its use to a national duty. It has grown to account for almost two-thirds of nearly 900 million debit and credit cards issued in India as of October, according to NPCI and central bank data.The audit followed a Reserve Bank of India inspection report on the NPCI in July 2017 that found lapses in its internal auditing practices, operational risks and improper whistleblower policies.

The RBI conducted another inspection between November and December 2019. A 33-page report on that audit included its assessment of NPCI's governance and operational and credit risks. But most of the report, also obtained by Reuters via the RTI Act, was redacted by the central bank which cited the need to protect India's and the NPCI's economic interests.

NPCI said in its statement to Reuters that it stores card data in line with standards set by the PCI Security Standards Council, and has been subject to audits authorised by the council."No non-conformities have been observed and we are fully compliant to these standards," the statement said.

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