ATM crime has surged in recent years, and when you manage or own hundreds or thousands of machines deployed across regions, ATM security becomes a serious challenge. Maintaining ATM security across multiple sites requires a unified solution that not only protects these machines but also simplifies management.
This guide breaks down what you need to know to secure and manage one ATM or thousands across banking and financial sites. You’ll learn best practices for maintaining ATM security, common risks to identify, and what solutions or systems you’ll need to effectively protect your assets.
>> The importance of ATM security measures
>> Challenges of traditional ATM security systems
>> ATM security solutions and systems
>> ATM security management best practices
>> How a unified ATM security solution benefits you
>> Choose a unified ATM security solution
ATM crime has grown more frequent and more sophisticated in recent years, especially with the added threat of digital attacks. Unfortunately, this problem is not restricted to a specific region. Countries all over the world are experiencing a surge in ATM-related crimes.
The European Payment Terminal Crime Report of 2023 reported a 24% increase in physical ATM attacks from the previous year, resulting in €9 million in losses. And while 66% of ATM crimes in North America are still physical, digital ATM attacks are also on the rise.
Physical attacks, such as forced entry or ram-raiding, remain a serious concern for ATM owners and security providers. These attacks carry high costs, with an average of $27,000 stolen per attack, plus $50,000 or more to repair and replace a damaged ATM.
Not to mention, these attacks cause more problems than just financial loss. Physical ATM attacks lead to property damage, disrupt normal business operations, and raise safety concerns for customers or nearby businesses.
After all, ATMs aren’t just at banks. ATMs are found across malls, event venues, gas stations, and supermarkets. If the machines in these areas aren’t adequately secured, physical attacks can easily deter customers and harm the business’s reputation.
Meanwhile, digital ATM attacks are becoming more common. Individuals use a method known as “jackpotting.” ATM jackpotting is a method in which malware is used to force an ATM to dispense cash. Other digital threats are also emerging, making it critical that ATM Security addresses both physical and digital threats.
ATM security aims to address the following areas for ATM owners and security providers:
Traditionally, ATM security solutions have been a combination of legacy systems that secured ATMs across multiple client portfolios. They often feature standalone alarm panels, third-party monitoring centers, separate video platforms, and aging sensors, operating independently.
This fragmented approach is antiquated. The systems may integrate with one another, but you’re left switching between different dashboards for bits of information. And in some cases, some ATM security devices or solutions may not integrate at all, leading to serious blind spots when monitoring situations or investigating incidents.
This lack of unification between ATM security systems leads to significant challenges, such as:
For these reasons, traditional ATM security management needs an upgrade. That’s why so many are prioritizing unified security solutions that combine everything into an easy-to-use system providing all the information necessary for successful ATM security deployments.
ATM security refers to a combination of physical and digital systems and processes used to protect Automated Teller Machines (ATMs). In addition, ATM security focuses on protecting the cash stored inside the machines and the people who use or service them.
ATM security is never a single system or device, but rather a combination of any of the following:
ATMs face two types of security risks: physical and digital. Your ATM security needs to be prepared for both, so here are the types of attacks you can expect in both areas.
Physical attacks target the ATM itself or the individuals using it, such as employees or customers.
The most common physical ATM attacks include:
Digital attacks focus on exploiting the ATM software and transaction process. These methods, while new, are often harder to detect without proper monitoring.
Here are some digital ATM attacks you can expect to face:
While there are many ATM security systems, many don’t speak to one another, creating a fractured, disjointed system. Ideally, as an ATM security provider, you want a unified ATM security solution that combines all your systems in one place.
That way, you’ll have an easier time managing security, have a clearer way to monitor activity, and can respond faster to security incidents.
So, here are the types of systems you’ll need in place for a unified ATM security solution.
ATM security encompasses a variety of systems and personnel to protect ATM networks. For ATM owners and service providers, these services support safer and scalable operations for consistent protection across multiple locations.
Common ATM security services include:
ATM security providers managing large, distributed deployments require a centralized platform to make it easier to deliver consistent and reliable services to customers.
At the same time, security providers benefit from faster responses, greater visibility into activity, and fewer disruptions. They also experience fewer false alarms that could cost hundreds of thousands of dollars in fines and require fewer truck rolls to check on-site equipment.
ATM security devices are physical detection and protection safeguards for ATMs. They are the first line of defense when preventing physical attacks on machines.
Security devices for ATMs may include:
Security cameras are an essential component for any bank or financial institution because they provide visual verification of incidents. Cameras also support safer environments for customers and technicians.
Effective ATM video surveillance solutions should:
When integrated into a unified ATM security solution, providers can make faster, more informed decisions, helping investigations conclude sooner and reducing the need for on-site intervention.
When managing the security of ATMs across hundreds or thousands of sites, it’s crucial that you know how to effectively protect them. Clear processes and centralized solutions help reduce risk for you and your customers while driving solutions.
As an ATM security provider, you should follow these best practices to support your operations.
Unify your ATM security so it’s easily managed in a centralized dashboard. This way, you get better visibility into what’s happening across all your ATM sites without switching between systems.
A centralized approach:
Establish clear, repeatable procedures to ensure you’re consistently handling security incidents, regardless of the location or client. Your standardization should include defined alarm responses, clear escalation paths, and consistent reporting requirements.
This framework ensures every incident is handled with the necessary care that reduces confusion that often occurs in high-pressure situations. It also reduces mistakes that may occur when there aren’t clearly defined procedures. Most importantly, standardized procedures are more likely to resolve the issue more effectively and with a positive outcome.
False alarms cause unnecessary costs and strain on resources. In fact, the estimated total yearly impact on the U.S. emergency response system for false alarms costs $3.1 billion, according to Social Science Research Network (SSRN).
Furthermore, false alarms can severely impact your business’s reputation. Verifying alarms before dispatching security or contacting law enforcement enables these personnel to focus on real threats.
Best practices include:
Monitoring device health and sensor statuses remotely helps your team identify issues early without having to send someone on site, especially when it comes to large ATM networks.
Remote diagnostics are extremely beneficial by supporting:
Regularly review and audit your business and procedures to identify trends or problems that may have gone unnoticed. Doing so helps you make improvements in operations, enabling you to deliver better services. Above all, use data to drive your decisions and adapt to varying ATM environments.
ATM security management should focus on more than just the machines. It should also prioritize the safety of customers, technicians servicing the machines, employees filling it, and the surrounding property. This is especially important when security often occurs when these individuals interact with the ATM, making them vital events to consider when managing their security and safety.
A unified ATM security solution combines all your systems and devices into one dashboard for easier management.
This single dashboard unifies your ATM security by allowing you to:
And with a unified ATM security solution, companies with ATMs can expect fewer false alarms, improved safety for their own customers and employees, and a worthwhile investment in protecting their assets.
Meanwhile, a unified solution benefits you with:
Overall, unifying ATM security solutions equips you to better protect clients, reduce risks, and deliver reliable security services in a more competitive market.
PACOM VIGIL CORE is a unified security platform that centralizes your ATM security systems, whether it’s a single site or thousands, into a single dashboard. VIGIL CORE brings alarms, sensors, video, and access control into one system that’s available in a cloud or on-prem solution.
With PACOM VIGIL CORE, you benefit from:
