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BREAKING NEWS
Cristian Espinosa was appointed Ambassador of Ecuador to the United States
Daniel Noboa receives the credentials of the new United States ambassador
40,000 women will receive scholarships in higher education
Julian Assange released from prison, after agreement with the United States
Armed Forces: Criminal gangs have lost USD 1.2 billion due to military operations in Ecuador
Minister of Defense: “It is not fair that some risk their lives, while others play with justice”
How can green banana flour enhance baked goods?
“I’m crazy for wanting to serve my country,” says Daniel Noboa at the presentation of “La Cárcel del Encuentro” in Santa Elena
Construction of the Encuentro maximum-security prison in Santa Elena begins
National blackout in Ecuador due to transmission line failure, confirms the Government

Deadline for chip cards extended for 2015

Posted On 06 Feb 2014
Deadline for chip cards extended for 2015

Deadline for chip cards extended for 2015

June 19, 2015 is the new deadline for financial institutions to issue credit and debit cards with a chip, in addition to adopting international security standards on the management of the above-mentioned devices, in accordance with a resolution of the Bank Board issued on January 10.

That date was fixed after the results of the inspections of the supervisors of  technological risk of the Superintendency of Banks and the technical analysis regarding the compliance with the measures of security in electronic channels and ATMs, “found that the implementation of the regulations has demanded great human, technical, and economic efforts for the entities…”.
Also highlights that there is a heavy dependence of the financial institutions with their suppliers of technologies to deploy smart cards.
On 26 April 2012, the Bank Board established (by resolution 2148) security measures as the delivery of smart cards that were implemented in 36 months.
These include mechanisms for monitoring and updating security hardware and software levels; protection systems against intruders to protect the ATM software; sending confidential information via e-mail; detection of attempts to alter codes; emission of alarms for the electronic channel lock; timely review by staff and others.
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