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Avoid using ATMs after dark: SBP guidelines |
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Dawn , December 06 , 2005
KARACHI, Dec 5: The State Bank has developed detailed guidelines
for account holders using debit, credit or smart cards and advised
them that after dark, only use ATMs that are well-lighted. The
SBP in its dozen advices asked all banks to provide maximum
information to card-holders for their protection, theft of cards
and cash robbery. |
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Advisor to Prime Minister on Finance, Revenue,
Economic Affairs & Statistics will inaugurate the 2-days
ICIP 2006 – 4th Int’l Conference on Investment Opportunities
in Pakistan which is being organized by Ecommerce Gateway Pakistan
(Pvt) Ltd. and Jamal’s Yellow Pages of Pakistan in support
with the Ministry of Privatization & Investment and Islamic
Chamber of Commerce on 9 & 10 March 2006 at the Conference
Hall of Karachi Expo Centre, in conjunction with 3rd International
Trade & Industry Fair (ITIF Asia 2006). |
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The rising frauds against card-holders and increasing hacking
problem in case of internet transactions have created serious
problems for the account holders. The robberies against the
ATM card holders especially when they draw cash from the machines,
has turned into a serious law and order problems. |
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“Always observe your surroundings before conducting
an ATM transaction. If you see anyone or anything that appears
suspicious, cancel your transaction and leave the area at once,”
advised the SBP to customers reflecting the growing law and
order problem related high-tech banking in the country. |
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“After dark, only use ATMs that are well-lighted,”
another precautionary advice proved. |
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“If possible choose a machine in a busy area. A heavily
trafficked location means additional security,” advised
the central bank reflecting the gravity of the situation. |
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Hundreds of cases were observed about the robbery of cash
when customers were using ATM machines. Bankers said dozens
of cases registered regarding the theft of credit cards and
in some cases card-holders were kidnapped and their cards were
used for shopping and other purposes till the release of the
kidnapped persons. |
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“Once you have completed a transaction, directly put
your money and card in your pocket and do not count cash at
ATM machine,” said the SBP. |
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The State Bank also provided detail about the safe internet
transactions and advised all users to keep their personal information
secret. |
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The technology was introduced to make the banking faster and
to meet the requirement of the growing pressure over the rising
number of transactions. The cards were designed to protect the
people from cash robberies but the rising frauds might shake
the confidence of the people before the technology strengthened
in the country. |
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“Electronic payment system is rapidly replacing the
conventional systems because of efficiency, convenience and
cost effectiveness. However, security is one of the major challenges
in the complete transformation of paper-based systems to electronic,”
said the SBP guidelines paper. |
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While the commercial banks are taking measures to strengthen
security, they are also required to create awareness about the
adoption of new practices by card-holders on mitigation of risks
arising out of deployment of new technologies, said the SBP. |
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“The SBP in consultation with commercial banks, have
developed guidelines for account holders using debit, credit
or smart cards which will facilitate the various stakeholders
to disseminate basic information on e-banking practices to their
customers. These guidelines are minimum set of information and
may be customised by the banks to meet their specific requirements,”
said the SBP. |
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The SBP requested the banks to update the guidelines on their
web along with a section of FAQs (frequently asked question).
They should also take initiatives to create awareness among
their customers who are using debt, credit or smart cards, it
added. |
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