The State Bank has issued directives to all commercial banks to further tighten their security systems to prevent ATM fraud.
Banks will be bound to keep CCTV cameras active 24 hours a day and immediately alert customers in case of suspicious activity.
Instructions have also been issued to provide internationally standard chip-and-pin cards for the protection of consumers.
The State Bank has said that modern technology should be used to prevent fraud in ATM transactions, and the installation of necessary security devices in machines should be ensured.
The directive further stated that ATM systems and software should be regularly updated, and secure and encrypted communication between banking networks should be ensured.
According to the State Bank, in case of becoming a victim of ATM fraud, consumers should immediately contact the relevant bank’s helpline, while if the complaint is not resolved, they can approach the State Bank’s online complaint portal.
The State Bank of Pakistan has announced that banks across the country will operate for only two days this week due to the Eid-ul-Azha holidays.
According to the central bank, all commercial banks, along with stock exchange markets, will remain open on Monday, May 25, and Friday, May 29.
Officials said the reduced working days are in line with the public holidays announced by the federal government for Eid-ul-Azha.
Under the directives of Prime Minister Shehbaz Sharif, the government declared holidays from Tuesday, May 26, to Thursday, May 28.
During this period, the State Bank, stock markets, and all banking institutions will remain closed nationwide. Normal banking operations are expected to resume after the Eid holidays conclude.
Also read: SBP announces to open banks for two days next week in Pakistan amid Eid-ul-Azha holidays
