Editorial | ATM heists are worrying

Recent incidents of criminals robbing automated teller machines (ATMs) are cause for concern for the banking sector and its customers who perceive that they could also become targets when they try to use the service.

In one daring incident, a machine which was located mere metres from the Darliston Police Station in Westmoreland was ripped from its mount, taken away, and reportedly emptied of $8 million. That successful heist might increase the level of fear among customers. In a consumer survey done in 2019, more than 56 per cent of Jamaicans said they did not feel safe using one of these machines.

Introduced in the United Kingdom in the mid-1960s and a few years later in the United States, ATMs have become popular because they are a convenient way to dispense cash. And, as demand grew, machines were no longer located on bank premises. Instead, they were placed in diverse locations, including supermarkets, hotels, shopping malls and gas stations. It is estimated that millions of financial transactions, mainly cash withdrawals, occur daily, facilitated by ATMs. This service has been identified as a new profit centre for banks, since, in many cases most banks’ customers and all non-customers are charged to access.

Already, the Jamaica Bankers’ Association (JBA) is looking at options to deal with the losses from theft and vandalism of ATMs. A reduction in the amount of cash available is being considered, said the JBA. It is also highly likely that the banks could reassess the vulnerability of the locations and decide whether to withdraw them, if their review determines that a location is unsafe.

The response to this rash of ATM robberies ought not to result in measures that will make life difficult for customers or put them at a disadvantage. This scourge has to be fought on several fronts, bringing together the police (already stretched), ATM operators and bank regulators, all sharing responsibility for monitoring and protecting customers and property.

These efforts require legislative support also, in terms of modern laws regarding the safety and usage of ATMs, as well as the adoption of technological prevention measures.

But, in relying so heavily on these ATMs, the question looms – are we trading safety for convenience? People have been robbed after making withdrawals from ATMs. In the worst cases, some have been injured or even killed. But these incidents by themselves do not tell the full story about the vulnerability of persons using ATMs. It requires deeper analysis to assess the various risks in order to paint an accurate statistical picture of the problem in Jamaica.

CREATIVE WAYS

Until such time, however, all banks have security departments established essentially to fight fraud and other crimes, and they should come up with creative ways to protect their machines and customers. The challenges faced by Jamaica are not new, for there are reports of cash machines being robbed all over the world. The responses have ranged from installation of surveillance cameras, GPS trackers, to dye packs and alarm systems. In some instances, service is withdrawn all together. When service is withdrawn, it is the customers, particularly those in rural areas, who feel the greatest pressure, because they have to go elsewhere for service and there are usually not many options.

Let’s not concede to the criminals and hand them another victory. More and more we see evidence that the society is retreating and being placed on the back foot by criminals who are bent on making life unliveable for the majority of law-abiding citizens. What we need is a determined head of steam to tackle these criminals. We should not yield.