ICICI Bank’s 17,000 credit cards were mapped to wrong users and misuse was not reported


ICICI Bank’s 17,000 credit cards were mapped to wrong users and misuse was not reported

The company said the affected cards accounted for only 0.1% of its credit card portfolio.

Mumbai:

ICICI Bank on Thursday said nearly 17,000 recently issued credit cards were incorrectly mapped to wrong users in its digital pipeline.

However, the second-largest private sector lender said it had not reported any abuse as a result of the error and pledged to compensate users for any financial losses.

“It has come to our attention that approximately 17,000 new credit cards issued over the past few days were incorrectly mapped into our digital pipeline and given to the wrong users,” a bank spokesperson said in a statement.

The error has been discussed on social media since last night and has now been corrected. Due to incorrect mapping, existing users were apparently able to view the details of newly acquired credit card customers, but not vice versa.

Some experts say the chances of the transaction going through are slim because any Indian online site will ask for a one-time password to be sent to the mobile phones of newly acquired customers.

An ICICI spokesperson stressed that the affected cards accounted for only 0.1% of its card portfolio, adding that all cards had been frozen. Customers will receive new cards.

“We have not received any reports of misuse of the card. However, we guarantee that the bank will compensate customers appropriately if they suffer any financial losses,” the statement read.

The discovery comes as regulators have been cracking down on any lapses by players and on Wednesday imposed strict business restrictions on peer Kotak Mahindra Bank.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



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