ICICI Bank, one of India’s leading private lenders, took swift action this week by blocking thousands of newly issued credit cards following a data glitch that exposed sensitive information. The bank revealed that approximately 17,000 credit cards were mistakenly linked to the wrong users within their digital channels.
The issue came to light after concerned customers raised alarms on social media regarding the iMobile Pay app potentially revealing credit card details of other users. ICICI Bank assured customers that despite the glitch, no fraudulent activity had been reported thus far.
In response to the incident, ICICI Bank is currently in the process of reissuing new cards to the impacted customers. Additionally, the bank has pledged to compensate customers for any financial losses incurred due to the data breach.
An ICICI Bank spokesperson attributed the glitch to “erroneously mapped” data of the newly issued credit cards within their digital channels. The spokesperson emphasized that the affected cards account for only 0.1 percent of the bank’s credit card portfolio, and no instances of misuse have been reported.
“We regret the inconvenience caused. No instance of misuse of a card from this set has been reported to us. However, we assure you that the Bank will appropriately compensate a customer in case of any financial loss,” stated the ICICI Bank spokesperson.
