Network cameras provide ATM security you can rely on

We often hear people (usually our parents or spouses) tell us we should keep an eye on our spending. Not as often are we told to keep an eye on our cash withdrawals. But apparently, the simple process of getting cash from the ubiquitous ATM is something a lot of us worry about.

A recent study conducted in Italy by research firm Xtreme Nordic uncovered that ATM transactions are of significant concerns to users. The study, which polled 1,000 Italian consumers, found that 79% of respondents feel at risk while using ATMs. In spite of this concern, 70% had withdrawn cash during the previous two weeks demonstrating the need for cash continues to outweigh users’ security worries.

As huge attention continues to be devoted to ensuring digital banking transactions are protected from cybercriminals perpetrating frauds via internet connections, attention to the security of physical transactions has had less emphasis. However, for many customers their main interactions with their banks are via ATM machines dispensing physical cash. This is often done outside of business hours and via terminals on the street leaving users open to theft of cash by criminals and also to the fraudulent use of stolen or cloned bank cards.

The ATM security issue is not going away even though cashless payment alternatives are gaining traction. The survey found that 50% of respondents in the 18-29 year old demographic use cashpoints at least twice a month.

Better Security Increases ATM Use

There’s therefore a clear need for ATM providers to address users’ security concerns so they use ATMs as often as they want and to withdraw as much cash as they want, rather than as much cash as they feel comfortable with withdrawing in a dark street at midnight (or avoiding their use altogether).

The survey then asked whether respondents think that video surveillance makes them feel safer. 56% of respondents in larger cities said they would be safer if video surveillance is utilised. They also indicated they believe there are clear benefits to ATM providers in using video images to identify criminals fraudulently using cash cards.

In contrast to traditional, analog cameras, network cameras enable such identification to be made remotely without having to wait until a camera is opened and storage media is retrieved and reviewed. This added functionality is also cost effective because it doesn’t require security personnel to spend time accessing stored media. In addition, utilisation of video compression technologies such as H.264 in network cameras provides high quality video streams that are optimised for efficient bandwidth usage and storage. High quality is important to ensure that users can be identified in situations such as a dark location.

Network cameras, such as AXIS P12 and AXIS F Series, also feature microSD/microSDHC card slots for video storage. This can be used as a back up to network storage and also means that there’s no need for additional equipment such as digital video recorders to be accommodated within ATMs, further reducing cost and increasing convenience of deployments.

Video surveillance at ATMs can be performed at ATMs by network cameras in ways that are unobtrusive to customers yet noticeable to criminals and therefore a deterrent. The survey found that only 22% of respondents felt that video surveillance would intrude on their privacy. So it would seem we don’t mind someone keeping an eye on our money – just don’t tell us how to spend it!

More information about Axis ATM solutions can be found here.