Central Bank requests customers to use EMV enabled cards for ATM transactions

atm-card

Feb 06, 2019 (LBO) – Sri Lanka’s Central Bank requests customers to use EMV enabled payment cards for ATM transactions to strengthen the security of these transactions.

The EMV enabled cards carry an electronic chip which is visible at the front of the card. If the card used by a customer is not EMV enabled, a request can be made from the relevant bank to issue an EMV enabled card.

Any unidentified or unauthorized transactions and lost or misplaced cards should be notified to the relevant bank, immediately.

Releasing a statement, the Central Bank requested customers to exercise due care and vigilance when using payment cards and ATMs in order to ensure the safety of ATM transactions.

Few incidents of fund withdrawals using fraudulent payment cards were reported in the recent past. The CID today arrested several foreigners for engaging in fraudulent transactions using card skimmers at ATMs.

The Central Bank with the participation of Lanka Clear and licensed banks have initiated several measures, in addition to measures that are already in place, to mitigate such situations.