On Wednesday, the Hong Kong Monetary Authority (HKMA) announced that Hong Kong will start making chip-based technology for all services "automated teller machine (ATM) implementation as a further step to enhance security of ATM service offered by licensed institutions (Als) in Hong Kong. Compare with magnetic stripe currently in use, this technology will help protect users from fraudsters. Hong Kong banking industry agreed to start implementing the program soon.
In circular to Als, criticism has revealed details of the ATM in chip security controls and corresponding implementation schedules, including upgraded ATM terminals and replace card as early as 2012. Take a phased implementation will also about 20 million ATM cards (including credit cards and debit cards) and some 2,900 ATM terminals. Expected to conclude by 2014 in March for debit cards and credit cards associated with bank accounts, card holders and by the end of 2015 for the remaining credit card replacement process.
Data protection with advanced security controls, ATM transactions will be provided based on the chip greater security. This technology will surely further enhance the security level for ATM services in Hong Kong. Always be paid by maintaining secure card and protect your PIN at all times.
The new chip card will continue to use magnetic tape feature to allow overseas because many ATMs abroad still using magnetic tape technology, but with enhanced security measures to provide more protection for foreign ATM transactions are not authorized. You will be able to withdraw cash ATM overseas as "deactivate" before you can make cash withdrawals abroad ATM transactions require activation failure through approved channels. Card holders may choose also the short period of time and set minimum drag for external transactions.
Cash said she would continue to work with the banking industry to monitor the latest technological developments, review the need to introduce additional security measures from time to time.
Established a Commissioners ' Office "and" Banking Fund "cash on 1 April 1993. Main functions and responsibilities are governed by the Exchange Fund Ordinance and the Banking Act and reports to the Minister of finance. Of government authority in Hong Kong responsible for maintaining monetary and banking stability. Relevant integrated circuit is KDS181.
Phyllis is a freelance writer for e-commerce websites in integrated circuits. SeekIc.com offers world buyers to search for a supplier quality electric components worldwide. We try our best to aggregate evidence in the business world and integrated circuits, this evidence that a full person.
No comments:
Post a Comment