Availability and Security of Automated Teller Machines (ATMs) and Digital Financial Services (DFS)

OFFICE OF THE DEPUTY GOVERNOR FINANCIAL SUPERVISION SECTOR 096 MEMORANDUM NO. M-2020-____ To : ALL BSP-SUPERVISED FINANCIAL INSTITUTIONS (BSFIs) Subject : Availability and Security of Automated Teller Machines (ATMs) and Digital Financial Services (DFS) As the country celebrates the coming Christmas and New Year holidays, BSFIs are once again reminded to ensure the security and continuous availability of ATMs and DFS to the general public. With the festivities and generosity of Filipinos at this time, the demand for cash and digital financial services are expected to spike during the long holidays. Thus, it is imperative for BSFIs to actively augment existing capabilities and implement strategies to fulfill customer requirements. Given the continuing community quarantine protocols, BSFIs play a crucial role to ensure that ATMs have sufficient levels of cash and their operations comply with physical distancing protocols. Further, BSFIs should sustain the public’s growing preference to utilize digital channels in fulfilling basic financial and payment transactions. Cyberattacks and electronic fraud are likewise observed to be escalating during long weekends and holidays. Hence, it is crucial for BSFIs to put in place mechanisms, resources and processes to ensure security of DFS and responsiveness to customer concerns. Likewise, customers should also be reminded to be alert and immediately report to concerned BSFIs any unusual transactions or activities in their accounts. For information and guidance. Digitally signed by Chuchi G. Fonacier Date: 2020.12.21 13:59:49 +08'00' CHUCHI G. FONACIER Deputy Governor 21 December 2020 A. Mabini St., Malate 1004 Manila, Philippines • (632) 87087701 • www.bsp.gov.ph • [email protected]