I read with a mix of disgust and confusion how crooks are costing Financial Institutions millions through everything from data breaches to skimming. A recent article tells me that our current estimate of $50,000 of cost per data breach is a low number. Today there are ways to protect yourself and I truly believe that we are on the leading edge with Diebold’s Project Protect. More about that later.
I will say I have been encouraged to see some of the best security set ups in small two or three branch institutions. You do not have to be big to take security seriously anymore. I have heard interesting stories about how security programs were started and some of the things to look for.
It is probably not practical to invest in a security program until you really understand where you are now. There are a lot of components to consider. Let’s focus on your ATM fleet for starters:
How are software updates and patches delivered? Are you up to date? By now you are all on Windows 7, but are patches and updates still flowing? If you are not on Windows 7 yet, the red flags should be waving. This is possibly the most important thing that can easily be fixed. In the past, this was not as important, but nowadays nobody can afford not to have the latest security update, virus protection update, etc.
Has your firewall been tested? How are you protecting your hard drive and motherboard? there are products available today that are inexpensive and robust solutions from whitelisting to disk encryption.
Now let’s think about your whole facility, starting with cameras. Are they actively monitored? Are they pointing at the right things? Is the resolution high enough to see license plates or faces?
This is a high level overview, but you get the idea. This topic is explored in detail at www.diebold.com/projectprotect. There is a lot of information on the site including webinars, product and service demonstrations and good ideas.
I look forward to a world were we get ahead of the crooks for a change.