Lenders Responsible For Failure to Launch OTP

In a directive to banks and credit institutions, the Central Bank of Iran has warned that lenders would be held responsible for any loss resulting from their negligence to activate disposable debit card passwords. 
“Failure to activate the dynamic debit card passwords is tantamount to breach and lenders will be liable to compensate for any loss incurred on customers”, says the directive published by IRNA.  
The warning comes after lenders ignored previous deadlines to activate one-time passwords service on their customers’ debit cards.