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Absa Bank: ATMs with Intelligent Banknote Neutralisation System Launched Yesterday

Absa Bank: ATMs with Intelligent Banknote Neutralisation System Launched Yesterday

Absa Bank Mozambique’s ATMs will be equipped with an intelligent banknote neutralisation system from Tuesday 7 November, with the aim of providing users with greater security and discouraging criminal activity.

In recent years, the country has seen two successful ATM explosions and robberies and another two failed attempts, one of which occurred at an Absa ATM.

In this context, the bank’s Director of Channels, Denise Cruz, explained that “the bank’s ATMs will have an intelligent system that makes banknotes unusable through the use of a permanent, indelible, traceable and denouncing ink, whenever a specific intrusion event occurs”, adding that, with the measure, the banknotes will be partially dyed, covering at least 20 per cent of the surface, and should not be accepted as a form of payment and/or deposited at the counters/agents”.

She clarified that the system aims to reduce the risk of theft and the circulation of illegal money, as well as contributing to the ongoing adoption of policies to combat money laundering and terrorist financing.

“In Mozambique, the management of electronic means of payment is regulated by the Bank of Mozambique, and it is necessary for all financial institutions to guarantee the solidity of their security systems, so that they provide greater comfort and security for customers. At this stage, we are proud to be the pioneers in introducing this system,” he concluded.


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