The Financial RFID CARD Supervisory Authority System ( Safi ) reminded the banking system during the following months the total change must come from at least one and a half million magnetic cards with chip to improve the security system users.
ASFI Executive Director , Lenny Valdivia, rejected the extension of time , to confirm that switching to debit cards with chip in the financial system will be open until December 31, 2013 .
He explained that in the process of migrating magnetic cards to chip there will be no problem for use at ATMs and shopping centers.
Data indicate rfid inlay that there ASFI in Bolivia 92,187 credit card users and 2.2 million with debit card, making a total of 2,367,735 .
The goal of migrating to chip cards is to give greater security and prevent the cloning of cards containing a magnetic strip and are much more likely to be cloned .
" It has issued a statement to the entire system of financial intermediation to do ASFI meet the schedule they have for system migration magnetic stripe to chip micro system , this to avoid the cloning of debit and credit . The deadline is 31 December this year, " he said.
The ASFI issued a circular to banks to improve the security of credit and debit cards with the addition of a chip as a security measure before the cloning of cards.
The Association contactless cards of Private Banks of Bolivia ( Asoban ) reported that 665 cases of abduction and illegal cloning of savings account product cloning crimes were recorded last month mainly in Santa Cruz were recorded , and managed to illegally steal $ us 382 000 .
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