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ATM frauds: Here are some tips to help you minimise the risk

Some tips to help you minimise the risk of frauds

Tinesh Bhasin 

The Reserve Bank of India (RBI) has asked banks to upgrade the older operating system (Windows XP and before that) on their ATMs. By June 2019, all ATMs have to be upgraded. The regulator has also asked banks to implement anti-skimming solutions by next March. The RBI has come up with the directives as ATM-related fraud is on the rise.

In 2016, there was a security breach in the network, after which many customers lost money. The breach was attributed to ATMs running older systems. “The process to upgrade the ATMs is on-going. But, there are around 240,000 ATMs in the country. Even if ...

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First Published: Tue, July 03 2018. 00:38 IST
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