Mobikwik, a provider of digital money transactions, is increasing its difficulties. The company is accused of leaking data from 110 million users. The Reserve Bank has ordered an immediate investigation into the allegations in the case. The RBI has warned that the company will face penalties for shortcomings.
Mobikwick has been accused of data leaks several times in a row this week. Many users have complained about this, but the company continues to deny data leaks. According to media reports, the Reserve Bank of India (RBI) is not happy with the company’s initial response and has asked for immediate action in this regard.
Let me tell you that Mobiwick has also suffered setbacks for threatening legal action against security researchers. This week several users have leaked details such as their credit cards, which are alleged to be related to Mobikwick. However, the company has denied the allegation.
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According to media reports, the RBI has ordered Mobikwik to appoint external auditors to conduct the methodological audit. In this case, if a violation is proven, a fine can also be imposed. However, the RBI has not responded to the case. In such cases, the RBI has the power to impose a penalty of at least 500,000 rupees ($ 6,811) for the payment provider.
At the same time, Mobikwik has not responded to the media. The company has previously said that users upload their data across different platforms. So it would be wrong to say that the payment company claims that any data has been leaked. The company said it takes users’ privacy and security very seriously.
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Mobikwick competes with companies like PayTM and Google payment service providers with 120 million users in the country. Data leakage is common in the country. On Wednesday, the New Delhi-based digital rights group Internet Freedom Foundation (IFF) asked the country’s cyber security firm to investigate the data breach.
