SBP issues directives to commercial banks regarding ATM transactions

KARACHI – State Bank of Pakistan (SBP) has issued fresh directives to all commercial banks aimed at preventing ATM fraud and improving customer security across the country. According to the instructions, banks will be required to keep CCTV cameras operational around the clock and immediately alert customers in case of suspicious activity linked to their accounts or ATM transactions. The central bank also directed financial institutions to issue internationally compliant chip-and-PIN cards to enhance protection for account holders and reduce the risk of unauthorized transactions. Banks have further been instructed to adopt advanced technologies to detect and prevent ATM-related fraud, while ensuring the installation of essential security devices in ATM machines. The directive emphasized the need for regular updates of ATM systems and banking software, along with secure and encrypted communication between banking networks. The central bank advised customers who become victims of ATM fraud to immediately contact their respective bank’s helpline. In cases where complaints remain unresolved, customers may file complaints through the State Bank’s online complaint portal.