Palestine Monetary Authority Issues New Instructions to Banks to Tighten Security and Safety Requirements for ATMs
Palestine Monetary Authority has issued new instructions to banks that include additional requirements to protect ATMs from the risks of theft. The new instructions include measures to be taken when choosing an ATM’s location and how to install and ATM and to fortify it with reinforced concrete and protect the cash safe inside the ATM.
The instructions include the need for banks to take new measures to protect ATMs and their surroundings by installing sophisticated alarms and linking them with security agencies, as well as using modern technology for warning when there is a power cut.
Palestine Monetary Authority also instructed banks to take additional measures to enhance surveillance cameras and linking them to central control rooms at banks, in addition to a number of preventive controls that help detect attempts to steal before they occur, and to link ATMs with security agencies and private security and safety companies.
The new instructions issued by Palestine Monetary Authority are based on the best standards and best practices and are designed to provide maximum protection to ATMs and their locations.
Palestine Monetary Authority considers the issue of the recurrence of recent ATMs thefts as extremely serious risk, and stresses that there is a shared responsibility on all parties to reduce these thefts. Palestine Monetary Authority has held a series of meetings with various security agencies in Palestine with the aim of strengthening protection and taking measures to reduce the risk of theft of ATMs, in addition to taking measures to prosecute perpetrators of criminal acts.