Card-Based Transactions<\/em>
\nBB to ask banks to follow int\u2019l security standard of PCI<\/strong>
\nBangladesh Bank will ask scheduled banks to follow the international security standard while operating their card-based transactions to avoid fraudulent acts and forgeries, central bank officials told New Age on Tuesday.\u00a0Major card brands including American Express, Discover Financial Services, Japan Credit Bureau, MasterCard Worldwide and Visa International established the Payment Card Industry and suggested 12 requirements to secure the card-based transactions.
\nThe BB will issue a circular to managing directors and chief executive officers of all banks in the quickest possible time asking them to follow the requirements in line with the PCI suggestions so that the clients can conduct financial transactions securely through their credit and debit cards, a central bank official told New Age on Tuesday.
\nAccording to the requirement, the banks will have to set up firewall configuration to protect cardholder data.
\nThe firewall is a system designed to prevent unauthorised access to or from a private network.
\nThe firewall can be implemented in both hardware and software, or a combination of both and it is (firewall) frequently used to prevent unauthorised internet users from accessing private networks connected to the intranets, the BB official said.
\nThe BB will ask the banks not to use the vendor-supplied passwords to protect the cardholders\u2019 data as such types of password might be hacked, he said.
\nThe banks will have to create own password to protect the interest of the cardholders.
\nThe banks will have to use confidential network among the officials when they use the cardholders\u2019 data, he said.
\nThe banks will have to impose required restriction for business organisations like shopping mall to the banks\u2019 card holder data.
\nThe clients usually pay their purchased bill through the credit and debit cards when they buy anything from
\nthe business organisations. For this reasons, the business organisations need to use the cardholders\u2019 data.
\nOnly identified and authenticated officials of the banks will be able to get access to the cardholders\u2019 data, the BB official said.
\nThe banks will have to monitor all types of access to the cardholders\u2019 data centre and conduct security system test regularly. The banks will have to upgrade their secure systems applications regularly for the cardholders\u2019 data.
\nThe official said the country\u2019s card-based transactions had recently widened tremendously while the fraudulent acts also increased in the period.
\nThe latest central bank\u2019s initiative will play a role in decreasing such types of fraudulent acts, he said.<\/p>\n

-With New Age<\/strong> input<\/p>\n","protected":false},"excerpt":{"rendered":"

Card-Based Transactions BB to ask banks to follow int\u2019l security standard of PCI Bangladesh Bank will ask scheduled banks to follow the international security standard while operating their card-based transactions to avoid fraudulent acts and forgeries, central bank officials told New Age on Tuesday.\u00a0Major card brands including American Express, Discover Financial Services, Japan Credit Bureau, … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[4],"tags":[],"yoast_head":"\n