Physical security is a significant concern for financial institutions. It is not only about preventing theft, but also about preventing unauthorized access to the institution’s data and systems.
In order to protect their physical assets, banks have implemented strict measures such as guards, cameras, and alarms. These measures are in place to deter criminals from attacking the bank physically or stealing data from inside the building.
The Importance of Physical Security
The importance of physical security is to protect people and property from harm. Physical security is a broad term that includes the prevention of crime as well as the protection of people and property.
Physical security can be classified into two main categories:
1) Crime Prevention,
2) Property Protection.
Crime prevention has three subcategories:
1) Security Surveys,
2) Security Systems,
3) Security Personnel.
Property protection has four subcategories:
1) Building construction,
2) Emergency Planning,
3) Business Continuity Planning,
4) Insurance Coverage.
What are the Top 5 Types of Threats to FMs?
Here, we will go through the top five types of threats to FMs and how they can be addressed.
1. Physical security threats:
Physical security threats are very common in the banking industry. Threats like robberies, kidnappings and burglaries are a constant risk for banks. In order to protect their physical assets, banks have to invest in security measures such as cameras, alarm systems and guards.
2. Online hacking: Online hacking is one of the most common threats that banks face today because of the internet’s wide reach and accessibility without physical boundaries. To prevent this type of threat, banks need to invest in strong cyber security measures such as firewalls, antivirus software and malware protection software.
3. Financial fraud:
Financial fraud is another common threat that banks face today. Financial fraud includes identity theft, money laundering, and check fraud. To prevent this type of threat, banks need to invest in strong cyber security measures such as fraud detection software and user monitoring software.
4. Physical attack: This is a common obstacle for any business especially financial institutions that serve as targets for thieves who are looking for easy access.
5. Poison schemes:
Many people lose money when they invest in Poison schemes, which is a type of fraudulent investment scam that promises returns with no risk involved.
How is Physical Security Measured?
Physical security is a measure of the ability of a system to protect people and assets from harm. The level at which physical security is measured depends on the type of threat that the system is protecting against.
The safety assessment center, also known as SAC, measures physical security in terms of likelihood and consequence.
A likelihood scale is used to measure the probability that an event will occur in relation to probable events occurring. The consequence scale measures the severity or consequences if an event does happen.
The Best Practices for Physical Security in FMs
Physical security is an important part of the information security program for banks. It can be divided into two parts: the physical controls and the physical environment. Buy AR 15 rifles for security guards of financial institutions, so they can completely protect you and your institution.
The physical controls are the people, processes, and technology that are in place to protect banking assets from theft, loss, or destruction. The physical environment includes everything in and around the bank that might impact its ability to provide a safe environment for customers and employees.