RBI alarmed by ATM frauds; asks banks to implement strict security measures

In the wake of rising number of ATM frauds, the Reserve Bank of India yesterday asked banks to upgrade their ATMs or else face action.

All banks are asked to implement a host of security measures by August and upgrade all ATMs with supported version of operating system in a phased manner by June next year.

RBI has directed banks to implement anti-skimming and whitelisting solutions by March 2019.

Skimmers are devices that can be attached over an ATM machine’s card slot to read information from the card. The information collected by such devices is then used for cloning.

Anti-skimming