The banking industry is facing many challenges with the growing security threats in the market. A couple of years ago, banks were hit by malware that is causing them to lose millions of dollars when their ATM machines are hacked. Other criminal activities happening in banks include armed robbery which consists of robbers entering a bank with masks with guns to scare everyone and steal money from tellers’ drawers or the vault. Also, employees stealing cash out of people’s accounts can be considered as another form of crime. Employees may use other’s personal information such as social security number and date of birth without having access rights to their accounts which will probably occur on an administrative computer located at the backroom where data entry clerks do not usually access. Atm security alarmis one of answers for reducing threat.
In the age of digital banking, it is important to understand how to secure your bank and ATM. With new technology comes new ways for criminals to take advantage of vulnerabilities in our system. In this blog post, we will cover some challenges that you may face when managing bank and ATM security as well as how to solve them!
What are the challenges:
- Criminal activities: · Robberies, employees stealing cash out of people’s accounts.
- Armed robbery (gun, mask)
- Eavesdropping (listening to conversations)
- Data theft (stealing personal information like SSN and DOB)
- Role-based access & bulletproof glasses.
- The security equipment like cameras should be used as a chance to catch criminals in the act. In addition, the bank’s architecture layout should be made as simple as possible by making all main areas visible from anywhere within the bank through the use of strategically placed security cameras. This will enable employees to feel safer knowing.
- Fragmentation landscape: Network is fragmented and they do not know where the data is stored. They also do not know if their network is connected to a network that has been compromised by hackers or criminals. This poses a security risk for banks because sensitive information such as clients’ finance and personal data may be leaked which can cause financial losses and harm their reputation.
- Access control: Access control can help monitor who logs in, who logs out, what applications are being used etc.. which will help solve some issues but not all since there are many ways to gain unauthorized access into systems that lack proper authentication controls e.g., shoulder surfing, dumpster diving, etc.
- Hardware Integration as a challenge in the bank and atm security:
The bank may run many applications that require all kinds of hardware e.g., A teller machine, branch servers, ATMs, etc.. which will result in the bank deploying different kinds of equipment with different operating systems and different patches levels. This can be a huge challenge for them to keep track of everything and manage it at a higher level without having any kind of problems or security breaches.
- Cloud Storage Needs as a solution: To fight fragmentation, a cloud storage connection is highly recommended since all data will be stored on the cloud so it would be easy to access from anywhere in the world with an internet connection. Moreover, if one single hard drive crashed the information wouldn’t be lost since it will still be saved on their online account.
Bank video surveillance cameras as a solution: The bank’s security cameras should be used as a chance to catch criminals in the act. In addition, the bank’s architecture layout should be made as simple as possible by making all main areas visible from anywhere within the bank through the use of strategically placed security cameras.
Video surveillance camera, alarms, and detectors, bulletproof glasses.
What are the solutions?.
- Bank video surveillance camera
- Cloud storage needs –
- Alarms and detectors
- Role-based access & bulletproof glasses. .
These are just some of the areas where security has failed especially when it comes to protecting confidentiality, availability, authentication e.g., physical security, network security, etc. One example is an attack on a bank in Russia where more than $8 million was stolen by criminals smuggling malware on USB drives which they have dropped off at ATM machines located next to banks for people who use them without knowing that their drives have been infected.
- Bank video surveillance camera: This is a common solution used to help improve bank security and protect their assets from being stolen by criminals or employees who plan to commit fraud. Video surveillance cameras are positioned within the banks as well as outside of ATM machines which records all activity that happens, this also helps detect if there is an intruder around the premises stealing ATMs, money, etc. Banks can determine which cameras have been tampered with or disabled, by whom and when will further help them undertake investigations especially with digital forensics where they will be able to investigate crimes committed using a computer e.g., email spoofing, removing malware from a USB drive, etc.
- Cloud storage needs: Another security challenge faced by banks is when they keep large amounts of data in their network, this can make it vulnerable when criminals try to gain unauthorized access and manipulate or steal the bank’s sensitive information. With the presence of cloud storage, all data will be stored and managed offsite which makes it more secure and accessible from anywhere in the world. Cloud storage offers several benefits such as: reducing costs and improving customer experience by moving files closer to end-users eliminating complexities associated with storing, securing, and managing unstructured data across multiple sites enabling insight into business processes e.g., finance department via reports
- Alarms and detectors: Alarms are sensors that can detect actions such as motion where different types of alarms such as infrared detectors could detect movement within ATM machines making it easier for banks to keep track of intruders trying to steal money or access the machine.
- Role-based access & bulletproof glasses: Role-based access ensures that only authorized personnel is allowed into certain areas such as ATMs and they can only gain access once they have been checked and confirmed by security personnel who wear bulletproof vests, this also applies to people outside of the bank premises such as customers and clients where banks ensure that employees get permission before allowing them in.
An attacker who attempts to break into your home could be alerted by https://www.verisure.co.uk/our-alarm-systems that not only alerts you, but also texts your parents or children so that they are aware.
One can download atm security software to make one’s life a comfortable one.
