Security of Bank Teller Operations - Essay Example

SECURITY OF BANK TELLERS By Name Course Instructor Institution City/State Date What are we protecting? Security in the banking sector is of the essence to every person who has access to the banks. Security of banking operations aims to protect the customers. Most customers usually go to the banks to either deposit to their accounts or withdraw cash from their accounts. This means that they have massive amounts of cash in their possession. Customers engage in such transaction since they assume that the bank will provide a save custody for their cash. It is, therefore, in the interest of the banks to ensure that customers are protected and conduct their transaction with ease. Also, bank security is of the essence to the teller. Tellers will always handle large sums of money. This is attributed to the cash they receive from customers who wish to make deposits, and the cash they give out to withdrawing customers. Therefore, this makes tellers prone to security problems during the course of their businesses. It is, therefore, a requirement of the banks to offer protection to the tellers and ensure that the tellers conduct their duties without fear. In addition to these, it is common knowledge that banks are in existence for the purpose of safeguarding valuables of the customers. During deposits and withdrawals customers have to be assured that the cash they wish to deposit will be protected adequately. Also, banks should ensure the safety of the amount of cash withdrawn by a customer while still within the premises of the bank. Therefore, bank security offered protection mainly to tellers, customers and valuables belonging to the customers (Doraiswamy 2009, p. 165). What are we protecting ourselves against? As a result of the nature of the transaction carried out in the bank's security is one of the factors that have to be given a lot of weight. This is because with an adequate security system in place, banks can avoid frequent robberies. This is a common factor in banks that have poorly structured security systems. Additionally, proper security structure ensures that there are minimal injuries during an event of a robbery. This can be attributed to the fact that in most bank robberies, robbers usually have extremely harmful weapons. These weapons if used could lead to grievous harm not only to the tellers but also to the customers inside the bank during the robbery. Therefore, it is necessary to provide sufficient protection to the customers and the tellers. In addition to these, security is essential in banks as it helps banks avoid litigation issues that may be brought by the customers. Customers are under the assumption that their valuables are protected once they are in the custody of the bank. Therefore in the event of any robbery a consumer may move to court, trying to seek a remedy for the lost valuable. Additionally, tellers may also move to court seeking compensation in the event they get injured during a robbery. This may be attributed to where the company does not have a well structure security system. Banks integrate security measure to avoid the loss of valuables belonging to their customers (Counter for financial Training 2009, p.334) What are the risks/cost resulting from failure to protect? If a bank fails to offer sufficient security during transactions between tellers and customers, then it becomes prone to robberies. Bank robbers usually attack banks without the knowledge of the bank personnel; therefore the lack of a proper security system means that robbers can easily conduct their robberies any time they wish. Also if, banks do not offer sufficient protection to the tellers, then the tellers become prone to injuries sustained due to the violent nature of most robbers. Additionally, the bank will have to contend with expenses incurred by their employees in the process of obtaining treatment. The lack of proper security is also detrimental to the lives of customers in the event of a robbery as they sometime come in between the robbers and bank employees. This could lead to the customers suffering injuries. Additionally, lack of protection could lead to the bank suffering massive losses in terms of the amount of money lost and objects that are valuable (Doraiswamy 2009, p. 180). What are the capabilities of the adversary? It is common knowledge that robbers do not attack robbers out of goodwill, but have interior motive which is to try and steal the valuables stored in the banks. Therefore, for them to achieve their goals, they are usually armed with crude weapons which if used could inflict grievous injuries. Bank robbers use such weapons to increase their chances of achieving their motives which in this case would be stealing bank valuables. This shows that bank tellers should be extremely cautious in confronting bank robbers as they could become victims of violence. In addition to these, the fact that bank robbers are driven by a motive, failure to achieve this motive could trigger violence on their part (Hess 2008, p. 130). What are Bank teller vulnerabilities? It is probably one of the requirements that banks should ensure that they have proper security infrastructure. The reason is to deter any person who may have an intention of robbing the banks. However, by using drawers that do not have locks clearly makes the banks vulnerable to robberies since bank robbers have easy access of the cash found in the tellers’ drawers. Also, in instances where the drawers do not have locks, then the banks should provide a barrier between the customer and tellers. This barrier would provide protection to both the teller and the amount of money found in the tellers’ drawers. Also, lack of any security personnel nearby significantly exposes the teller in regards to the amount of money to be found in the drawers. This is in consideration that the cash is not secure enough, and the presence of security personnel provides security to both the teller and cash at hand (Doraiswamy 2009, p. 120). What defensive measures that can be applied? There are various options that a bank can take in ensuring or safeguarding itself from robberies, or ensure that they do not experience massive losses in the event of a robbery. One of the possible solutions is providing a barrier between the tellers and the customers. The barriers should be strong enough to ward off any possible attacks by robbers. However, as the bank embarks in providing a barrier between tellers and customers, it should ensure it is beneficial to both parties. The best possible barrier would be using a bullet proof glass since it not only protects the teller but also depicts transparency. This is because the customer is capable of witnessing the actions of a teller when executing cash transactions. Banks should also ensure that they minimize exposure of money to the public during transactions. This can be achieved by creating a drawer under the counter, which ensures that the customer has no ability to tell the amount of money tellers have in their disposal during transaction. Bank should ensure that it has placed security tools such as alarm buttons near the tellers. These tools may come in handy during a robbery and could work for the benefit of the bank. Banks should also be alert to individuals who loiter around whether in the bank or outside the bank. Once they have established such persons, they should then approach them and question them without alerting them that they are suspicious of their movements. Also, banks should ensure that the drawers can be locked if theft is to be contained. Finally, and probably the main defensive mechanism is to follow the bank procedures, especially in regards to their opening and closing times (Lodgerwood & White 2006, p80) How can we respond when attacked? The confrontation with bank robbers is probably one for the critical moments in any robbery since it determines whether a robbery will be completed without any casualty or vice versa. It is, therefore, crucial for bank tellers to keep this in mind if they are to emerge out of the robbery without harm. Therefore, the most significant factor is cooperation with robbers, which makes the robbers have a soft spot on them. Studies have indicated where the tellers have cooperated with the robbers during a robbery usually come out unharmed in contradiction to those who contravene the direction of the robbers. Additionally, tellers and customers alike should avoid any form of movement which may trigger violence on the part of the robbers. In addition to these, tellers could always press the alarm system if they are close to it. However, they should be cautious when doing such a move as it may trigger violence on the part of the robbers, and should be done carefully. In the event that they come across evidence that may implicate on the robbers, then the teller and the customer should safeguard such evidence as it may come in handy in the prosecution of the robbers (Robey, 2011). Conclusion In conclusion, banks should ensure that they have set out elaborate security systems which would ensure the security of both the customer and the teller. Additionally, the banks could avoid the implications related to lack of a proper security measures. References Center for Financial Training, 2009, Banking Systems, 2nd edn, Cengage Learning, Connecticut. Doraiswamy, A 2009, Security Testing Handbook for Banking Applications, IT Governance Ltd., Cambridge. Hess, KM 2008, Introduction to Private Security, 5th edn, Christine Hess Othermann, Minneapolis. Lodgerwood, J & white, V 2008, Transforming Microfinance institutions: Providing fast services to the poor, World Bank Publications, Washington, DC. Robey, CC 2011, Bank Tellers-First line of Robbery Defense, Security world News, viewed 25 March 2013, Piotrowski, CM & Rogers, EA 2010, Designing commercial Interiors, 2nd edn, John Wiley & Sons Ltd, New Jersey. Read More