{"id":188960,"date":"2024-12-05T12:38:01","date_gmt":"2024-12-05T12:38:01","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/12\/05\/avoiding-atm-fake-shutter-fraud-why-some-atms-will-now-retract-cash-as-per-rbi-mandate-times-of-india\/"},"modified":"2024-12-05T12:38:02","modified_gmt":"2024-12-05T12:38:02","slug":"avoiding-atm-fake-shutter-fraud-why-some-atms-will-now-retract-cash-as-per-rbi-mandate-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/12\/05\/avoiding-atm-fake-shutter-fraud-why-some-atms-will-now-retract-cash-as-per-rbi-mandate-times-of-india\/","title":{"rendered":"Avoiding ATM fake shutter fraud: Why some ATMs will now retract cash as per RBI mandate – Times of India"},"content":{"rendered":"
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ATMs are equipped with a mechanism that automatically retrieves unattended currency notes. (AI image)<\/span><\/div>\n<\/section>\n<\/div><\/div>\n

ATM cash retraction new rules: The Reserve Bank of India<\/a> has now partly reversed its January 2012 directive that had mandated disabling of cash retraction in ATMs. The original decision was taken to prevent fraudulent activities at ATMs.
ATMs are equipped with a mechanism that automatically retrieves unattended currency notes if customers fail to collect them within a specified time.
Earlier, when cash was retracted, the system would record it accordingly. However, this feature was misused by individuals who would collect partial amounts whilst allowing the system to log a complete retraction. The discontinuation of this feature successfully prevented such incidents.<\/p>\n

New ATM fraud<\/h2>\n<\/p>\n

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