By Courtney Trenwith
Electronic chips will be installed into ATMs; also studying systems that would destroy money if an ATM is forcibly opened
Saudi banks will install satellite monitoring technology in automated teller machines (ATMs) to protect them against robbery and damage, according to Arabic daily Makkah.
Electronic chips would be installed to monitor ATMs and follow money transporting vans via satellite.
The Saudi Arabian Monetary Agency (SAMA) also has been asked to study systems that would ensure money inside an ATM self-destructed if the machine was opened by force or suffered severe vibrations. Some countries in the West already use such technology.
A government committee has given the kingdom’s banks one year to install the anti-theft technology, Makkah said.