ICICI Bank blocked 17,000 credit card data

by Psu Connect
Date: 26-04-24

India's second-largest private lender ICICI Bank, on Thursday had experienced a data glitch that affected nearly 17,000 newly issued credit cards.

ICICI Bank blocked 17,000 credit card data

These cards were unknowingly and erroneously linked to the wrong users in the bank's digital channels. The bank, however, has assured customers that the error has been rectified and there have been no reported instances of misuse. The lender has also promised to compensate any user who experiences financial loss due to the mistake.

What comes alarming:

The issue came to light unexpectedly, causing concern among customers. The worried Bank customers use social media to express their anxieties about the security of the iMobile Pay app. Users reported seeing sensitive credit card information within the app itself. This information included:

Full card numbers: The complete sequence of digits associated with a credit card.

Card Verification Values (CVV): The three-digit security code typically found on the back of a credit card.

The incident has raised serious questions about the credibility of ICICI Bank's security measures meant to protect customer information. Reports on a financial forum called Technofino provided further details. Here, users shared specific experiences of encountering the credit card details of unknown individuals while using the iMobile Pay app.

The bank has taken the necessary steps to address the issue effectively.

All affected cards have been blocked.

New cards will be issued to the intended recipients.

The bank emphasizes that no misuse has been reported yet, but they will compensate any customer who incurs financial losses due to the error.