Regulatory Alerts2007-04-25
Rules for Dealing with Old or Damaged Machines in Local Banks
The Saudi Central Bank requires licensed local banks and exchange houses to establish formal policies and procedures for disposing of damaged or obsolete machines, including ATMs, POS terminals, and computers, to ensure the confidentiality of recorded data is preserved. These entities must prevent discarded equipment from being treated as ordinary waste, thereby mitigating risks of tampering or unauthorized reuse while fulfilling their regulatory obligations. The directive further mandates strict compliance with information security standards throughout the disposal lifecycle to protect sensitive banking data from unauthorized access or misuse.
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