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Monday, July 23, 2018

RBI Warns 74% Of ATM Fraud Risks

RBI Warns 74% Of ATM Fraud Risks
New Delhi- Automated Teller Machines (ATM) outdated software is operating in public sector banks. This can lead to people becoming cheating easily. This information has been released in response to a question asked in parliament last week.
Currently there are more than 2 million ATMs in India, of which around 70% are operating on Windows XP software. It is worth mentioning that the Microsoft company has stopped supporting such software since 2014.

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It is worth mentioning that in June last year, the Reserve Bank of India had advised all banks to upgrade all their ATMs by June-2015. If this is not done then action will be taken against them.
Banks were told by the Reserve Bank that they would gradually upgrade the operating system version by June-2015 and complete all other safeguarding measures by August of this year. The Reserve Bank further said that this kind of negligence damages consumer interests.

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