RBI tells MobiKwik to investigate data leak, will penalise company if found at fault

Reserve Bank of India has reportedly directed MobiKwik to investigate the alleged data leak of a majority of the company's user base. The central bank has also told MobiKwik that it will be penalised if it is found to be at fault through the audit.

Reserve Bank of India (RBI) has ordered digital payments major MobiKwik to investigate the recent allegations of a major user-data leak on the firm. It has further warned MobiKwik that it will face penalties if any security lapses were found on the company's part. MobiKwik has been under scrutiny lately for an alleged data breach of its database that led to the personal information of 110 million of its users being shared on the dark web. MobiKwik denied the allegations and instead threatened to take legal action against the security researcher who first flagged the data breach. Post an internal investigation, the firm asserted that no such data leak was found during the probe. Citing undisclosed sources, a report by Reuters now mentions that the Reserve Bank of India was "not happy" with this initial response and has directed the digital payment platform to act immediately.