As of March 23, users must have their geolocation active to carry out online banking operations
With the pandemic for the Covid-19 the use of banking apps has increased significantly. Due to its popularity it has been decided to implement a new measure to offer more security to its users.
As of March 23, people must share your geolocation to use digital services. The services of Bank operations online can only be activated if the customer has their location active.
“To continue enjoying the services of the banks through digital channels. Before opening accounts, signing contracts and carrying out operations or services remotely, customers and users must allow the geolocation of the device through which they intend to carry out such acts “
According to experts, this measure arose to prevent money laundering and combat the financing of terrorism.
This new measure It is established in the “Resolution that reforms, adds and repeals various general provisions referred to in article 115 of the Credit Institutions Law”, published on March 22, 2019 in the Official Gazette of the Federation .
The Association of Banks of Mexico (ABM) reported that prior to opening accounts, signing contracts and performing operations or services remotely, users must activate geolocation.
“Banks are obliged to obtain and maintain the real-time geolocation of the device through which their clients or users open accounts or enter into contracts. As well as those through which they carry out operations or services ”, explained Daniel Becker.
Every Bank individually, they must inform their users of the terms and conditions that will be observed when share geolocation.
What if the user does not want to share their location?
Anyone has the right not to share their geolocationHowever, if you do not activate this function, you will not be able to perform any digital financial movement.
If you do not share it, your account will not be canceled, but for any movement the person will have to go in person to the corresponding branch.
The experts have detailed that it is not necessary to share at all times, since it will only be required when it is done Bank operations.
In fact, the permission can only be activated from the mobile when the application is used to guarantee privacy.
According to figures from the Bank of Mexico, during the second quarter of 2020, 64.6 million financial transactions were carried out in Mexico. Through online banking.