Security of Bank Customers during Physical Transactions
Abstract
The debate about the true definition of security has always drawn much heat from both the opposing and proposing sides. Some argue that security is an impossible standard that cannot be fully attained by any individual. To support this notion, Hellen Keller dismissed security as a superstition that is allegedly non-existent in nature. She went on to say that there cannot be a really fool proof way of avoiding these insecurities that we face.
However, contrary to this belief is the conventional definition of security as the state of being free from risk, danger, threat or unlawful entry and access. It refers to a state of privacy and safety in which an individual is calm, relaxed and at peace. This perception is much more popular within the present day society.
For centuries now, insecurity has been a menace that has faced most if not all of the human society. It arises from a set of individuals who prefer to take the easier way into success by prying on the hard earned cash and other valuable possessions of others and taking them away forcefully to attain their own wealth. The attempt to address this problem was part of the framework used in the establishment of banking systems worldwide. Beckhart, (1922).
Banks provided a secure location in which money or currency as well as other valuables could be deposited for safe-keeping. Banks have also been used for the conversion of currency from one country to another and this sometimes may be done on very large amounts of money. Besides these, there is the occasional making of payments, as well as cheque collection and deposits. The banks themselves consisted of well guarded building structures that were professionally designed to provide a secure location for storage of valuables.
Further safety measures were also taken to ensure maximum confidentiality and consistency of the customer details through the incorporation of technology in the handling of the personal information. When all this had been addressed, there emerged the technique of physically attacking customers after they make their cash exchanges withdrawals and robbing them. This could either happen when they are around the bank premises or after they have left. In this assignment, we consider this transaction type.
In this scenario, we are usually aimed at protecting the customer from any physical harm and assault as well as the cash or valuables that are in the customer’s possession. In the instance of the Automated Teller Machines (ATM), the customer’s private details such as their Personal Identification Number (PIN), also requires protection. Bellis, (2009) http://inventors.about.com/od/astartinventions/a/atm.htm
This protection is sought against robbers; who may intend to steal the cash at hand from the customer, frauds; who may want to conduct ATM withdrawals or transactions through impersonation or false pretense using the real customer’s personal details, kidnappers and hijackers who may also have the intention of obtaining money forcefully from the customer after their abduction. The third and more tactical set of attackers is the pick pockets. These are individuals who steal from innocent unsuspecting customers without their knowledge. They may follow or trail their victims from the banks and take advantage of a situation such as a congested or crowded street to pickpocket them. It is a more subtle technique since they do not startle, injure or attack their victims.
Customer security is a very sensitive matter and has gone on to form some of the core values and mission statements of numerous banking institutions. Failure to do so leads to very harsh and sometimes unbearable consequences that has even caused some banks to experience bankruptcy and in some more extreme cases even get shut down.
If we fail to protect customers against these vulnerabilities, we first and foremost heighten the risk of insecurities and attacks being made to them. As we may all comprehend, conditions such as these are uncomfortable and undependable. People are naturally attracted to conditions that are dependable and of optimum reliability and comfort. Therefore, conditions such as these will easily drive away customers and discourage potential customers from using banks to store their money.
The second major risk arises when these acts of violence and robbery are orchestrated. It leads to loss of money and other valuables by the customers. In other more extreme instances, it leads to harm and infliction of pain and suffering on the individual. This is especially seen in instances where robbery with violence is carried out. When this gets out of hand, some victims experience trauma, been left crippled and even dead as a result of these attacks.
However, contrary to this, if we actually decide to seek after the protection of our customers in banks, we will experience a growth in the customer base since these will create a comfortable environment to conduct the necessary transactions. It will also be a strategy that will see an increase in the customer base since conditions such as these are optimum for expansion of the customer base and eventually increase in business.
Our vulnerabilities as customers and the service providers are several. This is as a result of the fact that some of the robbers happen to be very thorough in their preparation, leaving no room for error and carelessness.
Bank robbery occurs most frequently in cities and large towns. This concentration is often attributed to there being more branches in urban areas where the transportation infrastructure is much more developed and suitable for getting away. In such areas, banks tend to cluster near to retail shopping areas and commercial districts. Such banks are highly profitable targets for bank robbers who are then afforded a number of potential escape routes.
The banks are prone to loss of money and personnel during such attacks since some robbers are usually armed. It is also vulnerable to damage of property and machinery which leads to large bills in form of repairs and new purchases. On the other hand, the customers may be attacked, injured or killed have fear inflicted in them and this discourages them from using banks and keeps away other prospective ones.
With the tactics of these robbers changing frequently, various strategies have also been put forth to curb this problem. The first one is the Bank Protection act which is a federal legislation that was designed to strengthen bank security. Baggett, Bamett, Burges & Rusell, 2011 (p 9-15).
The second measure is the installation of electronic locks on the drawers in which the cash is contained so as to provide some sort of reinforcement. It will also cause a delay in the time required for a robbery. In the same time-locked drawers and vault doors, they may also be wired to silent alarm triggers such that when one attempts to open them without authorization, or a valid transaction, it will automatically detect a robbery in progress and set off the alarms which will alert the police.
The third measure taken is the installation of CCTV cameras in banks and ATM outlets. Cavoukian, (2007) .These are small hidden cameras that live stream and record all the activities taking place in a specified location at all times. In an instance of a robbery, the police are able to capture the robbery on camera and it may reveal the robber’s identity which eases the job of tracking down the culprits. This has proven to be highly effective.
Bait money is also another technique that has been used as a defensive measure. This refers to paper currency kept from other currency in the cash drawer for giving to robbers. Each bill’s serial number is recorded and is thus much easier to track. It may also have a GPS tracker in it which provides the money’s physical location. Fuller & Grimm, (2006)
The use of a description form has also played a key role in helping the police solve such crimes. It is a set of specific questions and details that is filled out by those who witnessed the robbery incident to help identify those who robbed the bank.
The final technique discussed below is the dye pack. This is a radio controlled device that is used by some banks to foil a bank robbery. It does so by causing the stolen cash to be permanently marked with red dye shortly after the robbery. This helps in tracking the money if the robbers attempt to circulate it. The stolen cash is therefore rendered un-usable.
There are also various measures that we can take as customers to help us get through such attacks and robberies unharmed. Training of the personnel and employees is the first step in the right direction. I have compiled the following techniques that are suitable to help victims survive such attacks.
The first one is to be aware and alert of what is going on around you. This will ensure that you are not caught off guard and end up experiencing shock.
Co-operate with the robbers and do not make any attempts to resist or make any confrontations.
Focus on staying calm and listen to them as keenly as you can following any instruction they give.
Finally, if you are certain of it, you may seek a way out of the situation or call for help. You must however to be tactful and do this without endangering yourself or others in the same predicament.
References
Mary. B, (2009), Automatic Teller Machines: The ATM Machine of Luther Simjian.
http://inventors.about.com/od/astartinventions/a/atm.htm
Annette. B, Sheila .B, Loretta. B & Alana. R. (2011), Arkansas department of Career Education: Banking and Finance: Teller Operations, p 5 & 11
Beckhart. B.H, (1922), Outline of Banking History: From the First Bank of
the United States Through the Panic of 1907, Annals of the American
Academy of Political and Social Science 99 pp. 1-16
Ann. C. (2007), Guidelines for the Use of Video Surveillance Cameras in Public Places, p 3.
Richard .F and Phillip. G, (2006), Follow the Money: Tracking System for Locating stolen currency. p 24.
