DECEMBER 13, 2016, MT. PROSPECT, IL – While there is no “silver bullet” when it comes to securing ATMs, it is critical for financial institutions (FIs) to have a proactive plan in place. Fortunately, there are proven steps that FIs can take to increase their ATM security posture.
In the final part of this three-part news brief series, Cummins Allison, the leading innovator and provider of check, currency and coin handling solutions, as well as ATMs, discusses how a detailed ATM security plan can help FIs identify and secure vulnerabilities.
When It Comes to ATM Security, Planning is Key
For your FI, proactive planning can save valuable response time when a security breach occurs and can result in accelerated containment and resolution of the incident. Here are some recommendations that your FI should take into consideration when creating a tailored ATM security plan:
- Identify Security Risks: A thorough assessment should identify all potential ATM security risks in your environment. You must first understand what type of vulnerabilities your ATMs have in order to determine what capabilities should be deployed to prevent damage, detect intrusions and provide alerts when potential threats are identified. For example, machines that sit inside guarded lobbies have a different risk profile than machines that sit on an island with no video camera surveillance.
- Determine Key Metrics: You must determine which specific performance metrics will allow you to accurately assess the impact and effectiveness of your security initiatives. Once these metrics are identified, then you may strategically define and prioritize which security features to put in place. This will help guide your plan toward effectively reducing critical vulnerabilities and minimizing the impact of a physical or virtual breach.
- Make Your Plan Your Own: An organization's structure, governance, culture and risk assessment can all have a significant impact on its ATM security plan. ATM security must fit within with your overall business strategy, and it is important to do the necessary research to make your plan unique to your FI. Review the various security frameworks available and identify the components that are most applicable for your organization, as your plan might include components from multiple sources.
- Include Your ATM Vendor: Most, if not all, ATM vendors have security guidelines available that provide a best practices approach. True ATM security is all about understanding the big picture, the breadth and depth of threats, and how all of the parts of your ATM infrastructure fit together. Your ATM vendor can be a valuable contributor to this planning process.
The way your FI proactively responds to a security breach can save you from potentially irreparable damage to your brand. To learn more about how to assess your current and future ATM security requirements, visit www.cumminsallison.com/atm.
About Cummins Allison
Cummins Allison is the leading innovator and provider of check, currency and coin handling solutions, as well as full-function ATMs. Our world-class sales and service network includes hundreds of local representatives in more than 50 offices in North America, 6 wholly-owned subsidiaries and is represented in more than 70 countries around the world. For more information about our award-winning solutions, visit www.cumminsallison.com.