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  • SBP issues fresh instructions on ATM CCTVs for fraud prevention

    SBP issues fresh instructions on ATM CCTVs for fraud prevention

    KARACHI: State Bank of Pakistan (SBP) on Wednesday issued fresh instructions regarding installation of Closed Circuit Television (CCTVs) in Automated Teller Machines (ATMs) vestibules and preservation period of visual records.

    The central bank invited attention to Circular No. 02 of 2007 and No. 05 of 2016, FD Circular Letter No. 04 of 2017 whereby regulatory instructions were prescribed inter alia regarding installation of CCTVs in ATMs vestibules and preservation period of visual records.

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    In this regard, it has been decided to issue following instructions with an aim to strengthen the regulatory instructions and standardize the installation of CCTVs, in and around the branch premises of Banks/MFBs, quality and preservation period of visual records of such CCTVs:

    Banks/MFBs are advised to update their Standard Operating Procedure (SoPs) to prescribe and standardize inter alia installation points of CCTVs, within ATM vestibules and around branch premises, minimum preservation period of visual records, quality of cameras deployed including minimum required resolution standards to enable round the clock recording. The installed CCTVs should at least be of six mega pixels.

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    CCTVs, installed within the ATM vestibules, must be directed to record the ATMs users’ activities and to enable regulated entities and Law Enforcement Agencies (LEAs) facially recognize users, if so required, in investigations of terrorism, fraud and disputed transactions related cases.

    Banks/MFBs, within one month of issuance of this letter, shall update aforesaid SoPs, ensure deployment of CCTVs as prescribed therein and submit a copy of compliance certificate in this regard to the concerned Banking Supervision Department.

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    Banks/MFBs thereafter on continual basis must maintain, at centralized location, monthly record of operational status of CCTVs. Compliance function shall then certify that CCTVs installed in branch network of regulated entity have operated satisfactorily during preceding month as per standards prescribed in SoPs and submit a quarterly report thereof to concerned Banking Supervision Department.

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  • Meezan Bank installs 1000th ATM

    Meezan Bank installs 1000th ATM

    KARACHI: Meezan Bank, Pakistan’s leading Islamic bank, has installed its 1,000th Automated Teller Machine (ATM).

    This landmark cash dispensing terminal has been installed at Chashma in District Mianwali, a press statement said on Wednesday.

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    Since its inception, the Bank has expanded its ATMs across Pakistan’s rural and semi-urban regions, providing round-the-clock access to cash and furthering basic banking and financial inclusion for the masses.

    The bank’s ATMs enable access to NFC-enabled and bio-metric transactions, cash deposit into own and other bank accounts and integration with various digital wallets while also operating on solar power and consuming significantly less energy than conventional machines.

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    As the only bank in the country to offer the fastest debit card activation service through its ATM terminals, the Bank is also the first in the industry to allow withdrawals up to Rs100,000 in a single transaction.

    “Meezan Bank is committed to grow its state-of-the-art ATM network across Pakistan while offering the highest standards of ATM services with the best up-time in the industry,” said Shariq Mubeen, Head Alternate Distribution Channels, Meezan Bank.

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  • ATM transaction charges levied only on obtaining printed receipts: 1Link

    ATM transaction charges levied only on obtaining printed receipts: 1Link

    KARACHI: 1Link Pvt Limited on Wednesday said that charges imposed on ATM transactions only on physical receipts. However, electronic information of transactions is remained free of cost.

    1LINK is Pakistan’s first fully licensed PSO/PSP, largest payment and switch system, committed to administer and evolve a strong e-payment network in the country.

    The 1Link in response to various queries being initiated regarding ATM transactions receipts, said that it was an optional service where banks customers were getting a choice to opt for a physical receipt charged at Rs2.50, or to get a free of cost intimation through SMS.

    “This initiative is part of a ‘Go-Green’ exercise to reduce litter and lower the cost of printed receipts, which are usually discarded immediately,” it said in a statement.

    In addition, sensitive customer information is left for others to peruse, it added.

    “The State Bank of Pakistan (SBP) has not mandated this and has entirely left the customer to choose a charged receipt or get free electronic confirmation,” it said.

    The 1Link said the guidelines governing this are:

    1. Customer must be informed about charged receipt at the time of transaction.

    2. Bank has registered mobile number of the customer.

    3. The customer has free SMS facility.

    4. Assure that an SMS is pushed to the customer’s registered mobile number with details such as transaction amount and remaining balance.

    The company said that charged receipts on balance inquiry and ATM receipts have been ongoing since quite a while, and customers have full liberty to decline a receipt without incurring any extra cost.

  • SBP to monitor ATMs working during Eid holidays

    SBP to monitor ATMs working during Eid holidays

    KARACHI: State Bank of Pakistan (SBP) will monitor the working of Automated Teller Machines (ATMs) during Eid holidays to ensure uninterrupted availability of cash.

    The central bank on Friday said that it had provided a sufficient quantity of fresh and good quality ATM notes of higher denominations to commercial banks for smooth ATM operations during the Eid Holidays.

    “In this regard, special teams of SBP and SBP BSC officials shall inspect and monitor the working of ATMs across Pakistan to ensure uninterrupted availability of cash to the general public during the Eid holidays.”

    The SBP, through 16 field offices of its subsidiary SBP Banking Services Corporation (SBP BSC), issued fresh banknotes of various denominations aggregating to Rs284 billion, including Rs.274 billion via commercial banks and Rs.10 billion via cash counters of SBP BSC , during days leading to Eid-ul-Azha.

    Out of the total notes issued to commercial banks, Rs. 12 billion of lower denominations (upto Rs.100), fresh notes have been provided for onward distribution among general public and account holders, the SBP said.

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