NBTC Office says mobile banking apps will not be suspended for now

It stated that AMLO would begin checking the mule accounts from that day onwards.

The statement said that as part of the verification process, banks would have to create lists of mobile banking accounts and associated mobile phone numbers for AMLO to verify.

The statement added that AMLO will forward the lists to the NBTC office for clarification and for telecom operators to verify the names of cell phone number holders.

The names of the verified mobile phone owners are sent back to AMLO, which in turn forwards them to the banks.

In case of any discrepancies, banks would have the final decision on whether or not to terminate the account or mobile banking services, the NBTC office said.

If the owners of the mobile phones or accounts could explain the reason for the discrepancies, mobile banking services would not be suspended, the statement added.

The NBTC office said it will soon hold a meeting with telecom operators to find measures to make it easier for mobile phone users to change the name of the SIM card owner.