ARTICLES — January 20, 2021

Proactive Protection: How IoT Solutions Secure Banks from ATM Threats

Consumers have adopted payment apps and digital banking to manage their finances, but ATMs remain a common platform for transactions. The problem is, they also remain a popular target for crime. That's because most ATMs are located in a physically accessible environment without any trusted user present, leaving them vulnerable to attack.

According to ATM Marketplace, ATM threats can be broken down into three categories: physical attacks, financial fraud, and logical attacks.

●     Physical attacks. Attempts to physically breach the cash enclosure or other media inside the ATM.

●     Financial fraud. Attempts to steal cardholder data to make a counterfeit card such as card skimming or card trapping.

●     Logical attacks. Attempts to steal cardholder data or to cash out the ATM via external devices or malicious software.

These three threats are becoming more common in the banking and financial industry. Fortunately, there is a simple solution to this problem: the Internet of Things. IoT allows various devices or sensors to communicate with each other, which enables enterprises to easily detect data and deliver this information back to the control center. Similarly, IoT based sensors can also detect any movement or presence inside the ATM center and send alerts regarding that as well.

Using IoT to protect banks and ATM sites is the latest trend in the banking sector. More than that, IoT-based devices can help reduce the rising operational costs of ATMs as well as help increase their efficiency. Read on to find out how IoT is helping the ATM centers of banks.

Advanced ATM Monitoring Ecosystem

IoT ensures maximum visibility of ATM sites. IoT-based sensors and smart cameras enable live monitoring system that helps banks reduce the risk of attacks. This system enables banks to observe, manage, and protect their premises from fraudulent activities through an easy-to-use dashboard, which can also be used to view incident and accident event recordings.

Reliable Preventive Action

Powered by analytics, adjustable fraud prevention actions and two-way audio warning enable enterprises to increase security at business premises. This extensive ecosystem will respond proactively to fraudulent activities and ensure the best service to customers at the same time. For example, banks will get notifications whenever unwanted incidents happen in their ATM sites so they can easily determine the next action.

ATM threats need to be taken seriously and banks need to look towards security as soon as possible. More importantly, having proactive protection system will make customers feel safe and secure when they’re using your ATM, boosting their trust in your enterprise. IoT Managed CCTV offers advanced visual monitoring system for safer banking and financial business premises. Through this comprehensive security system, they can now safeguard their locations with reliable, secure, and cost-effective Managed CCTVs at all times. Visit https://telkomseliot.com and secure your banking premises and performance with proactive protection.

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