SBP Makes Biometric Verification Mandatory for Opening Bank
- FARRUKH
- Moderator
- Posts: 9502
- Joined: 18 Dec 2014, 9:02 pm
- Location: Rawalpindi Pakistan
- Has thanked: 331 times
- Been thanked: 1114 times
SBP Makes Biometric Verification Mandatory for Opening Bank
SBP Makes Biometric Verification Mandatory for Opening Bank Accounts and Using ATMs
Biometric verification has been made mandatory for opening a new bank account and using ATMs by the State Bank of Pakistan. This applies to all private and government banks and will be in effect from January 2016.
All ATMs in the country will soon be fitted with biometric scanners to get the finger impressions of people using ATM cards to withdraw or transfer cash.
The decision comes from the Federal Investigation Agency, which has seen an increasing numbers of cases related to electronic crimes, fund transfers to terrorist outfits, general misuses of bank account and ATM card fraud.
The move will also help eliminate fake bank accounts as well as tax evasion.
The whole process is expected to start from January 2016. Banks would have to get fingerprints of customers before they open an account and existing bank account holders would also have to go through the process.
The arguments put forth for this move are more or less the same as the ones used for biometric verification of mobile SIMs. It remains to be seen how much it will cost, how much time it will take and whether it’s an effective strategy to combat electronic fraud.
Mediastar MS-Diamond X2 Full 4K
TCL 40" UHD Smart LED Tv
Shabbir 8ft A Quality Motorized
Covering 3.1E to 122E
My Motorized Dish
Hotbird Scan Result
Badrsat Scan Result
Kontinent Scan Result
TCL 40" UHD Smart LED Tv
Shabbir 8ft A Quality Motorized
Covering 3.1E to 122E
My Motorized Dish
Hotbird Scan Result
Badrsat Scan Result
Kontinent Scan Result
-
- Registered Member
- Posts: 206
- Joined: 28 Jul 2014, 10:38 am
- Has thanked: 1 time
- Been thanked: 11 times
Re: SBP Makes Biometric Verification Mandatory for Opening B
So strange, what about the opening account process of a foreigner should he also be treated similarly are just a headache for the Pakistanis?
What about an old man or woman if he or she can't come to the bank for using his/her ATM card for withdrawal through finger(biometric) bcoz his sons etc are no more able to use his ATM card.
What about an old man or woman if he or she can't come to the bank for using his/her ATM card for withdrawal through finger(biometric) bcoz his sons etc are no more able to use his ATM card.
Who is online
Users browsing this forum: Bing, Claude, Google Adsense and 18 guests