Current AffairsIndia

Adjudicating Officer orders ICICI Bank to reimburse customer

The West Bengal government has directed ICICI Bank to reimburse a complainant who lost Rs. 60,000 due to an illegal transaction due to the new 3D pin feature employed by the bank.

The Principal Secretary, Information Technology & Electronics Department, Government of West Bengal found ICICI Bank liable for offence under Section 43A of the Information Technology Act, 2000.

“…….the respondent is liable under section 43A of the IT Act, 2000 as in this case they failed to provide reasonable degree of security practices and procedures to stop illegal transaction of Rs. 60,000/- (Sixty Thousand Only) of the complainant,” the order passed on January 11 said.

Adjudicating Officer Rajeev Kumar was hearing a complaint filed before him for adjudication under section 43 & 43 A of the IT Act 2000.

The Bank accepted that no OTP was generated for the alleged illegal transaction as the complainant had enabled a new 3D pin feature, but it was unable to show that the complainant had been sufficiently sensitized about the consequence of this new 3D pin feature.

“Ironically this feature was supposed to provide greater security,” remarked the Adjudicating Officer.

The Bank’s contention that the complainant himself had withdrawn the money, was also not accepted since the IP address for the transaction was not that of the mobile operator being used by the complainant.

Accordingly, the matter was disposed with the direction upon ICICI Bank to pay Rs. 60,000 to the complainant within 14 days of the order.

Furthermore, an interest rate of 12% per annum (compound interest) was also directed to be payable if the amount is not paid to the complainant within the above-mentioned period.

Source
Via Bar & Bench
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