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The following is issued on behalf of the Hong Kong Monetary Authority:
To further enhance the security of ATM services across the banking industry, with effect from March 1, 2013, the overseas ATM cash withdrawal capability for all ATM cards (including debit cards and credit cards) issued by Authorized Institutions in Hong Kong will be pre-set as "deactivated" to minimise unauthorised ATM transactions.
To make use of this new security feature, cardholders intending to make cash withdrawals from ATMs overseas (including those in the Mainland, Taiwan, Macau and places outside Hong Kong) should activate the overseas cash withdrawal capability in advance through Hong Kong ATMs, online banking, phone banking or bank branches and then set the effective and expiry date for the activation period as well as the overseas ATM cash withdrawal limit. Individual banks have started communicating the detailed arrangements to their customers. Cardholders should contact their own card issuing banks for details.
To help the public understand the enhanced security features, the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) will shortly be publicising the details through television and radio and on their websites.
Deputy Chief Executive of the HKMA, Mr Arthur Yuen, said, "We believe that the new control measures on the use of ATM services outside Hong Kong can further strengthen the overall security of ATM services in Hong Kong. ATM cardholders are advised to pay attention to the operations of the new measures to ensure they can continue to withdraw cash from ATMs outside Hong Kong from March 1, 2013. The HKMA will continue to work with the banking industry to monitor the ATM security development and international trend, and strengthen the security of ATM services where appropriate."
Chairman of the HKAB, Mr Benjamin Hung, said, "The industry has been making good progress with the chip card project to enhance ATM security, with the adoption of the chip-based technology reflective of the collective commitment of the industry to improve the security of ATM services. We will be using different channels to help public understand the operation of the overseas ATM cash withdrawal capability, in accessing reliable and secure ATM services."
Ends/Friday, January 25, 2013
Issued at HKT 18:18
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