Commercial banks have been urged by the Anti-Money Laundering Office (Amlo) to ensure that a new requirement that people using cash deposit machines (CDMs) must verify their identity when making transactions does not leave customers out of pocket.
Currently, consumers can deposit money at CDMs by entering the bank account number of the recipient.
The requirement, in which cash depositors at CDMs will have to verify their identity by using an ATM card, debit card or credit card, will take effect on Nov 15. Those without these cards have to make deposits at the bank's branches and show their ID cards.
