ATM Attacks – More Frequent, More Damaging
What Are You Doing to Avoid Becoming the Next Target?
ATM attacks are on the rise. Criminals are becoming bolder, faster, and more creative in their attempts to attack ATM assets across the country. All it takes is one single occurrence for Financial Institutions to understand the impact of a breach and preventative measures that need to be implemented to protect their asset.
Every bank should ask themselves this very question.
If we are taking great steps to protect the valuable data and intellectual property of our customers through various software encryption systems, why are we not taking steps to protect our physical assets?
Physical and visual deterrents can become a critical clog in the wheel relative to financial institutions overall security strategy.
What is the total impact of an ATM attack?
Banks and financial institutions must internalize the impact of ATM attacks and the short and long-term effects that they have on their business. In the short term, impacts include:
- Loss of cash on hand
- Loss of the ATM asset worth thousands of dollars (and depreciation)
Loss of time and consider expense paying a contractor to clean up the wreckage, disposing of the asset and confidential information contained.
- Build-back costs & remediation
- Cost of a replacement ATM unit
- Loss of revenue from downtime
- Loss of time, energy and internal management expense of having to facilitate insurance loss, claims and closure.
Most importantly, how will the financial institutions deal with the cost of bad publicity, the lost of trust, and brand reputation that has taken years to build. As they say, it takes twice as much energy and expense to get a customer back once you lose them! Your clients may never come back if they do not have full trust with their financial institution’s resources. When doing the math, immediate ROI is there.
Think Like The Criminals
Corporate security teams have learned over the last two years (and many through firsthand experience), that criminals are very strategic and methodical – almost surgical! Their tactics change from market to market, and they often share information within their inner circles.
When the offenders first enter a market, they spend time surveying all the financial institutions, banks and potential “targets” in that market. This includes a myriad of ATM types, including traditional drive-up ATM’s, remote island drive ups, through the wall, and so on.
They ask themselves questions like:
- Can they use a chain/pull tactic to tear off the vault doors?
- Is there easy enough access to get in and out within a matter of minutes?
- Is there limited police presence near the target and can they flee the scene before authorities arrive?
- Has there been historical success of ATM breaches in the market?
- What worked and what didn’t?
- Should they get caught, what are the local laws in the area? Can they avoid prison time and get out with a “slap on the wrist”?
In each instance, the very best deterrent is a physical and visual deterrent in the form of a permanent ATM security gate. Studies have proven that the bad guys will “move on to the next one” if there are other ATM’s in the market that do not have a physical deterrent in place.
Just as these lawbreakers continue to adapt and overcome, Security Vault Works does the same with our security gate design. Over the past 35+ years, we have developed multiple design solutions that have outpaced the market.
We developed a hidden lock solution system that is highly effective, yet easy for the cash providers to service your ATM’s.
Specific to the gate arm, we have created and designed multiple solutions that feature concrete/river rock as well as stainless steel roller bars. Each solution has been field attack tested at SVW’s research and development testing site in Irving, TX.
Additional design enhancements include:
- Two primary post designs – core drilled and tack-welded bolt version
- Rhino lined paint (to prevent rust) colors customized to meet our clients’ brand standards
- Alarm/trip wire additions
Our solution is turnkey, meaning we handle:
Taking The Next StepTo ATM Protection:
Trust the Security Vault Works experts when it comes to executing security gate initiatives. Our team can help with everything from developing a cost budget, execution plan and ongoing maintenance program.