Regulatory Alerts2013-09-05
Added · Updated
PSD Circular No. 03: Security and Risk Mitigation Measures at ATM/POS Transactions
The document mandates that scheduled banks operating in Bangladesh ensure trained security guards are present at all ATM booths and verify the identity of any individuals installing or repairing equipment by contacting authorized bank officials. Banks must display notices with the names and contact numbers of responsible officers to facilitate immediate resolution of customer issues. Additionally, banks are required to publish warnings about fraud via print and electronic media and display easy-to-understand posters regarding correct ATM usage procedures in visible areas of the booths.
Payment Systems Department Bangladesh Bank Head Office Dhaka PSD Circular No. 03 / 2013 Managing Director / Chief Executive Officer All Scheduled Banks Operating in Bangladesh
Dear Sir,
Regarding the actions to be taken by banks to secure and mitigate risks in ATM/POS transactions.
It is observed that scheduled banks are using various types of electronic payment media/channels to improve and simplify transactions through the Payment Systems. To protect customer interests and encourage them to use electronic transactions by reducing risks and strengthening security measures of these electronic payment media/channels, the following measures are advised to be taken:
- Infrastructure Security (Sub-system)
- Trained security guards must be maintained for surveillance at ATM booths.
- If any person/group comes to install/repair any new equipment in the ATM booth, the security guard present in the booth must call the authorized official of the bank regarding this matter and verify the identity of that person. If necessary, the concerned bank official must personally visit the ATM booth to verify the identity of such person/group.
- To ensure immediate resolution of customer issues, the names and contact phone numbers of the officers deployed to implement the above provisions must be displayed as notices in the ATM booth.
- Awareness Creation (Information)
- Necessary measures must be taken to alert/notify customers by printing and publishing warnings regarding fraud/deception occurring in ATM/POS machines in print and electronic media.
- Measures must be taken to display posters containing the correct rules for ATM usage in simple language in visible places in the booth.
Please acknowledge receipt.
Yours faithfully,
(S.M. Rezaul Karim) Deputy General Manager Phone: 9530311
Director, PSD Director, PSD Date: -------------------- 05 September 2013 21 Bhadra 1420