Productive Business Solutions (PBS), is urging domestic firms to implement robust security measures to stay ahead of criminals—in response to the recent surge in automated teller machine (ATM) attacks in Jamaica. 

Highlighting the news of another stolen ATM in Longville, Clarendon, PBS general manager Vennis Williamson emphasized that the primary threats to ATM security locally fall into two categories physical attacks and logical attacks. She noted that when it comes to physical attacks in recent times criminals have been using explosives and ripping out ATMS to gain access to the contents.  On the other hand, they often attach devices to ATMs to steal card information or insert covert devices into the card reader to capture data from chip cards for logical attacks.  

“Financial institutions should focus on assessing their ATM fleet and its locations to identify high-risk areas and apply the appropriate security measures to mitigate risks. Appropriately hardened ATM models and enclosures should be deployed based on the risk profile of each location, incorporating necessary security technology such as the Intelligent Banknote Neutralisation System (IBNS),” stated Ms. Williamson.

IBNS, a security system that uses ink to render stolen banknotes unusable, is not yet utilised in Jamaica. However, it was one of several security technologies demonstrated for local financial market players at the ‘Future Proofing ATM Networks’ seminar held by PBS and their partner NCR Atleos earlier in June.

The companies provided a live demonstration of an IBNS activation on an ATM and addressed concerns from representatives of financial institutions and cash-in-transit companies.

Paul Nicholls, director of business development at Oberthur Cash Protection, who presented at the seminar, likened the ongoing battle between financial institutions and criminals to a game of “Whack a Mole.” He underscored the importance of knowledge-sharing among banks to counteract organised crime networks and expressed his belief that IBNS “is the safest way forward for institutions aiming to deter criminals and protect clients’ money.”

PBS, a leading enterprise technology company, is assisting financial institutions in staying ahead of potential threats with a range of ATM security solutions, including physical security enhancements, fraud detection and prevention tools, and monitoring and alert systems.