KBZ to Upgrade ATMs after Security Breach

Kanbawza (KBZ) Bank will upgrade the security systems of its ATM machines after K20 million was stolen from ATMs in Yangon in late November, according to an official from the bank.

The new “3D security system” will be installed soon and new security staff will be hired to heighten the security of ATMs while security trainings are being provided, U Than Lwin, an advisor to the bank, told Myanmar Business Today.

“Cases where the money was withdrawn with fake cards occurred due to the security weakness of ATMs. The stolen money was not just from KBZ but also from other banks. So CCTV cameras only are not secure enough. The ATMs will be upgraded with this 3D system to process the withdrawer’s data and records,” he said.

Two Indian citizens were arrested by the local police for withdrawing K900,000 in three runs from an ATM in Botahtaung township on November 25 before being referred to the Criminal Investigation Department (CID).

“This is a cyber crime. Interpol will also look into this case. There are some leads and suspects in connection with this case will be pursued,” Police Brigadier General Soe Myaing told Myanmar Business Today.

A British citizen has also been detained from a hotel in Pabedan township under suspicion of being involved with the money withdrawal cases with fake ATM cards, Police Lieutenant Colonel Win Kyi from the Western District Head Office said.

“We also have detained a British citizen. Now a total of three foreigners are questioned for withdrawing money with fake ATM cards. We will also make sure to arrest other connected suspects,” he told Myanmar Business Today.

Similar cases of using fake cards to withdraw from ATMs have occurred in some other ASEAN countries including Cambodia in recent months, U Than Lwin said.

Source: Myanmar Business Today

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