Magazine article American Banker

ATM Security at Sites in New York Held Lax

Magazine article American Banker

ATM Security at Sites in New York Held Lax

Article excerpt

ATM Security at Sites In New York Held Lax

A study commissioned by New York City Council members has found that most local automated teller machine sites have minimal security.

Among the findings, disclosed Monday at a hearing on a proposed ATM security bill, was that any card with a magnetic stripe -- including a gasoline or department store credit card -- opens the outer doors of all but one of the 231 ATM locations surveyed.

The sponsors of the bill commissioned the study of the use and adequacy of surveillance cameras, doors, locks, mirrors, and security guards.

Million-Dollar Tab

The bill would require banks to install some of these security features citywide. To meet the requirements for 150 branches, Citicorp would have to spend between $1 million and $1.5 million, according to a city council official.

The sites visited in the study belonged to 21 banks, but four banks combined -- Chase Manhattan Bank, Citibank, Chemical Bank, and Manufacturers Hanover Trust Co. -- owned more than half the sites.

The study was conducted over a two-week period last month. About 90% of the sites visited were indoors; the bill would prohibit new outdoor sites.

The task force making the visits found that no bank met the requirements of the bill as it stands.

The Crime Tally

A total of 630 crimes were committed at ATM locations over the past 21 months, according to New York City Police Department statistics. …

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