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
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