State Bank of Pakistan has made the biometric verification necessary for using ATMs and opening a new bank account. This will come in effect from January 2016 and it will apply on all government and private banks.
biometric scanners
Now the people have to get the finger impression to withdraw or transfer cash from ATM cards and the biometric scanners will soon be installed in all the ATMs inside country for this purpose.
The Federal Investigation Agency as taken this decision due to increase number of cases of ATM card fraud, misses of bank account, electronic crimes and fund transfers to terrorist organizations. Apart from that, the problems of tax evasion and fake bank accounts can also be eliminated by this step.
January 2016 will be the starting time of this process. Before opening a new account, the banks will take the fingerprint of customers while the same process will also be done for the existing bank account holders.
For this move, the arguments presented are quite similar to the ones used for the mobile SIM’s biometric verification process. The few things needs to be considered are the time of completion of this system, its effectiveness and the cost of this system.
SPB makes Biometric Verification for Bank Accounts & ATMs Mandatory ,
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