Although today there are different processes to detect counterfeit banknotes in bank branches, now the Bank of Mexico (Banxico) seeks to put an end to this type of pieces in ATMs.
This Monday, the central institute put to public consultation the draft provisions to modify the Cash Operations Circular, which seeks to regulate the operation of cash accepting and dispensing ATMs, in relation to the treatment of allegedly counterfeit pieces and banknotes. not suitable for driving.
The draft provisions and its consultation plan are available to anyone on the bank’s website, and if applicable, it would enter into force three years after its publication in the Official Gazette of the Federation.
In the draft, it specifies that now the credit institutions, when the allegedly false pieces or altered bills are detected through operations in ATMs, they must be retained and proceed.
But also, he details, the tickets delivered through the ATMs in charge of the institutions, will have to have undergone the process and review, and previously classified by them.
“The banknotes not suitable for circulation that have been entered by the public for any operation in the automatic teller machines (…) must be submitted by the institutions to the review process, having to refrain from putting them back into circulation and proceed to deposit them in the Banco de México ”, specifies the project.
Retention, registration and referral
The document put up for consultation by Banxico until January 7, 2022, explains that credit institutions must retain, as allegedly false pieces or altered bills, those that they detect in any operation carried out through their ATMs, when on the third consecutive attempt to perform this operation, the device has not been able to establish its authenticity based on the review process that leads to that effect.
Reference-www.eleconomista.com.mx