Closely monitor ATM transactions from 11pm to 1am

After stealing card information, criminals often take advantage of the transition between two days to withdraw the maximum limit.

The State Bank has just issued a document requesting provincial and municipal branches; the Inspection and Supervision Department; card payment service providers, and the National Payment Corporation of Vietnam (Napas) to deploy work to ensure ATM security and safety.

Accordingly, payment service providers equipped with ATMs must urgently review the installation of software and equipment to prevent copying and theft of card information for their entire ATM system. When detecting strange devices used to steal customer information attached to ATMs, banks must maintain the status quo and immediately report to the unit's leaders as well as the police for coordination in handling.

The State Bank also requires banks to closely monitor transactions occurring between 11pm and 1am the following morning (when criminals take advantage of the two-day withdrawal limit) to minimize risks to customers and banks. In addition, banks must take measures to instruct customers on how to recognize devices that copy and steal card information attached to ATMs and how to respond when detecting these cases.

Banks must increase monitoring of midnight ATM transactions.

This document also requires the National Payment Corporation of Vietnam (Napas) to strengthen coordination with member banks to monitor, promptly detect and handle unusual transactions (especially transactions made at the time of transition between two days, from 11pm to 1am), ensuring the interests of customers as well as member banks. At the same time, Napas must study measures to prevent and combat fraudulent tricks of card criminals.

The State Bank branches in provinces and centrally-run cities; the Inspection and Supervision Department are also required to strengthen monitoring, supervision, and direction of card payment service providers in the area to properly implement the Governor's direction, and to impose administrative sanctions according to regulations on organizations violating ATM operations.

The document issued by the management agency comes amid recent cases of customers losing money in their ATM accounts, often occurring at midnight. Bank representatives also recommend that, to limit risks when using cards, customers need to keep their cards safe, keep their PIN numbers secret, not lend or let others use their cards, and promptly contact the Customer Care Center for timely support.

VNE