On the morning of Thursday, November 17, 2022, employees opening a bank on Martha’s Vineyard were ambushed by three armed robbers. At gunpoint, an employee was forced to open a vault, from which more than $39,000 was stolen. In an age when crimes against financial institutions are increasingly virtual, this case highlights the need for vigilance when it comes to physical security measures, particularly during branch opening.
The ATM Safety Act of New York was designed to protect bank customers at a vulnerable time—when handling cash, typically alone, and focused on the task in front of them. Although crime rates at ATMs have been steadily declining and today are rare, New York’s law contains “best practices” to keep your customers and your organization secure. Is your bank in compliance with them?
If your business relies on traditional keys to lock your facility (or anything within it, such as records or machinery), you might think that your security rests on the strength of your locks. However, the truth is that your business is only as secure as your keys are kept.
When it comes to bank security management, today’s financial institutions have a full plate—in addition to the vault, security is also a primary concern in the lobby, drive-up window, ATM, night drop, and parking lot, not to mention a crucial consideration for online services and records. Providing adequate protection for so many avenues can be a challenge. Luckily, a variety of solutions can streamline these needs, beginning with these three essential systems.
For financial institution managers and employees, bank security requires constant vigilance. However, the opening and closing procedures can be a particularly vulnerable time. How can you implement or strengthen your security practices to ensure the safety of your employees, your customers, and your assets?
For banks and financial institutions, security doesn’t begin at the vault or the teller line—but rather, outside the building. To keep customers and employees safe, it is critical to ensure that your exterior spaces—the parking lot, exterior doors, night depository and outdoor ATMs—are well-lit.
Why are security systems so critical to your safety and the protection of your facilities?
5 Things to Assess/Keep in Mind When Installing a Video Surveillance System in Your Financial Institution
Video surveillance is the heart of your security system. Day and night, it works to record all potential and current threats to your institution. Without video surveillance your institution’s assets would be very vulnerable, as would your employees and customers. Video surveillance has the ability to monitor every inch of your institution, and when installed correctly and carefully, can be 100% reliable.
Every door to your building has a lock and a deadbolt. You also have video surveillance in every corner. Is access control really necessary? Yes. The answer to this question is always yes, access control is very necessary. Whether your institution is small, medium or large, the need for access control is always there. Keys can be lost, stolen and replicated. Access control eliminates the extra hassle and the extra stress.
First and foremost, your company’s assets are top priority when thinking about the safety and security of your institution. If your assets are compromised, that’s it, there may be no coming back.