Automatic Teller Machines (most commonly known as ATMs) are becoming big target items for thieves. Not only are they looking to steal money from the machine, but also steal from the customers using the machine, or steal the entire machine itself. As a business owner with an ATM on their premises, damage to your building can result from any of these situations. If your customers are robbed, there is also a potential you will be named in a lawsuit if one arises.
If your business has ATMs located anywhere on your premises, it is important that you take the proper precautions to protect yourself and your customers. Here are some of our best practices for protecting your automatic teller machines from crime:
Protecting your property
The first step in ensuring that your ATMs, and your business as a whole, are safe from thieves is to set up protection methods on your business property. These can include the following:
- Ensure your building has a monitored alarm system, with both perimeter and motion detectors.
- Any ATMs on your property should be firmly bolted in place, and the bolts should not be easily accessible or removable.
- All ATMs should be alarmed and monitored. The alarm should activate if the machine is removed from the premises or damaged in any way.
- Consider attaching a tracking device to your machines. This will aid in recovery if your machines happen to be stolen.
- You should have a secure password system in place so that an alarm sounds or a dye pack explodes if the machine is broken into.
- The area surrounding your ATMs should be adequately lit and patrolled on a regular basis.
- Consider installing surveillance camera(s) in places that cannot be readily removed or covered.
- If you or one of your team members are responsible for depositing and replenishing the money from inside the ATM, you should consider using a separate drop safe with a timed lock.
Protecting your business from employee theft
Although many thieves are people unknown to yourself and your business, you may be surprised to learn that employees are often the ones engaging in crimes such as theft. In fact, it is estimated that employee theft is responsible for approximately 34.5 per cent of all theft in Canada.
To prevent employees from engaging in theft at your business, make sure that you limit the handling of cash for your ATMs to specific employees only. It is also important to ensure that a different employee is handling the ATM cash than the employee who is reconciling the accounting records for the ATM.
After-hours ATM regulations
Different businesses have different opening and closing times – some being open quite late, or even for 24 hours. If any of the ATMs on your premises are accessible after-hours, the following additional precautions should be implemented:
- The area surrounding your ATM(s) should be secured with self-closing doors and automatic locks
- The area should only be accessible after hours using a card lock system
- Make sure to equip the area with a telephone to allow for customers to call for help in emergency situations
- Ensure that the lighting is adequate for the area, and kept on whenever ATMs are accessible
- Ensure the area is visible from the outside and from all angles.
Ensure that your business is protected from theft
Despite implementing the above best practices, sometimes things like theft are simply just out of your control. That’s where a solid insurance plan comes in, as it can help cover the costs of any covered losses, protecting you and your business’ bottom line. Learn more by visiting our business insurance page today!
