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Indian government tells Citibank to plug ATM security loopholes

February 14, 2008

Rediff India Abroad: Fair trade practices body MRTPC has directed Citibank to inquire into and plug security loopholes in its electronic transaction platforms like ATMs, while initiating a probe against the bank after a customer was billed for cash he did not withdraw.The Monopolies and Restrictive Trade Practices Commission passed the direction on a complaint from a credit card customer of the bank that he was wrongfully billed for a cash withdrawal of Rs 16,000, although he had never used the card in an ATM.

Components Debit / Credit Transaction Processing Retail / Off-Premises Bank Security Public Companies North America Bank / Credit Union Branch Transformation Software Security

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