Security for Banking and Finance

Banking and Finance Banks and Financial institutions have always been attractive targets for crime due to the high volume, high value transactions that take place on their premises on a daily basis, both as physically at high street branches and electronically.

Protecting customer data and financial systems is a major issue for all financial institutions; although electronic breaches of security are still prevalent in the media, the issues are well documented and companies in the financial sector have moved significantly to take control of their network security.

The most comprehensive network security system, firewalls and encryption can be compromised (and frequently are) by an unauthorised visitor accessing insecure data rooms or unattended workstations. According to most experts, the majority of computer crime is perpetuated not by criminals hacking in from outside, but by disaffected or opportunistic employees.

Security breaches
Quite apart from the legal implications of such action, the cost to businesses can be very high. According to the Department of Trade and Industry in 2002, the average cost of each serious incident is £30,000 and several companies reported breaches costing more than £500,000 with more than 44% of all UK businesses have experienced at least one malicious security breach in the last year.

With opportunism accounting for
such a high proportion of computer and data security breaches, what can be done enable companies to ensure that they comply with the law and protect their own interests at the same time?

Workforce education plays an important role, forcing changes to passwords regularly, using a combination of letters and numbers and emphasising the importance of not revealing passwords to anyone are simple first steps that can be taken.

Entire premises and in particular Data rooms and server centres can be protected by biometric access control or even more effectively with a combination of biometric and smart card systems, thus ensuring that an unauthorised visitor cannot steal a card and access high security areas 'legitimately'.

For Banks that have a wide branch network, a remote surveillance system based on a WAN network or with IP Network cameras can be used to enable security management on a nationwide basis.

Integrated systems
An integrated system of cameras and access control or intrusion detectors in areas of high security allows building management or security staff to view any area as soon as an alarm is triggered or a door is opened, giving them the immediate ability to determine the person's authenticity.

Alarms linked to the access control system can be fitted to laptops and other easily portable but highly valuable computer equipment, thus ensuring that an alarm will sound if it is removed from the building without authorisation.

G4S Security Systems can provide you with a comprehensive review of your physical security arrangements and devise a strategy that compliments your existing virtual