ICICI Bank Blocks 17,000 Credit Cards Due To Technical Glitch In iMobile App
The glitch also allowed users to make adjustments to the settings of these cards, such as enabling foreign transactions or changing spending limits
ICICI Bank has taken action to block approximately 17,000 credit cards following reports of a technical glitch in its mobile banking application, iMobile. Users raised concerns on social media platforms, including 'X', about being able to view other customers' card details, including card numbers, expiration dates and CVVs. The glitch also allowed users to make adjustments to the settings of these cards, such as enabling foreign transactions or changing spending limits.
Responding to the issue, ICICI Bank stated that these cards, issued in the past few days, were "erroneously mapped in our digital channels to wrong users," constituting about 0.1 per cent of the bank's credit card portfolio. The bank promptly blocked these cards and initiated the issuance of new ones to affected customers. ICICI Bank reassured customers that no instances of misuse had been reported and pledged appropriate compensation for any financial loss incurred.
Experts on the 'X' platform advised users to report any issues with their cards, block them if necessary, and request replacements from the bank. The incident first came to light on the financial forum, Technofino, where users shared instances of accessing other customers' card details through the iMobile Pay app. Concerns were raised regarding the security protocols and checks implemented to protect customer data.
Sumanta Mandal, founder of TechnoFino, described the incident as a security glitch on ICICI Bank's iMobile Pay app. This incident occurred shortly after the Reserve Bank of India's crackdown on Kotak Mahindra Bank, imposing sanctions due to significant concerns arising from IT examinations and the bank's failure to address them comprehensively and in a timely manner.
