Friday, June 3, 2016

ATMs - Security and Risk Mitigation Measures



ATMs - Security and Risk Mitigation Measures

ATM card transactions remain vulnerable to skimming, cloning, etc. frauds, even though the cards are EMV Chip and PIN based. It has, therefore, become necessary to mandate EMV Chip and PIN card acceptance and processing at ATMs also.

Banks and White Label ATM operators should ensure that all the existing ATMs are enabled for processing of EMV Chip and PIN cards by September 30, 2017. All new ATMs shall be enabled right from inception. Banks may join any authorised ATM/Card network provider for switching, clearing and settlement of their ATM transactions,.

Banks shall also implement the above requirements at their micro-ATMs which are enabled to handle card-based payments.
Based on RBI circular dated 26/05/2016. For any further clarification, please visit www.rbi.org.in ……….. Poppy