Preventing Theft and Robbery at Your Bank

Experiencing a robbery is any banker’s worst nightmare. Despite being a rare crime, this fear is at the forefront of many banker’s minds on a daily basis. While there are some existing tactics in place, such as bait money, dye packs, and security systems, they don’t prevent robberies from happening. Therefore, to provide some peace of mind, we have compiled a list of three simple strategies to deter theft and prevent these types of crimes from occurring in the first place. In addition, protect your bank with a comprehensive Crime Insurance policy.

Customer service.

The last thing any potential thief wants is to be recognized or noticed when surveying the bank. A simple “hello” and making eye contact with him or her can deter their actions from the start. With this in mind, your bank can instantly step up security by training employees to be alert, friendly and responsive. Greet people when they come in the door and pay attention to their movements throughout the branch. In this instance, customer service itself is the security measure, explains ARCA.

Clue in your employees.

The inner workings of a bank should not be  exposed to outsiders. It’s wise to have your employees sign a nondisclosure agreement that extends both during and after their employment. Further, train employees to trip silent alarms or subtly notify police in the event a robbery does occur. The more your employees are trained and know what to do, the more secure the bank will be.

Focus on your processes.

Automating the cash cycle in your bank can deter robberies, as well. Electronic cash counters can minimize the amount of cash on hand and how much can be dispensed during each transaction. Next, think about the security your bank implements. 24/7 surveillance, protected safes, and guards are all critical to providing your bankers and customers peace of mind.

About FGIB

Since 1983, Financial Guaranty Insurance Brokers has distinguished itself as a provider of Professional Liability, Cyber Liability, and Crime insurance products for financial entities, in addition to providing crime insurance and general business insurance products to a number of firms across the United States. To receive timely, personalized service from a knowledgeable and experienced staff, call us today at (626) 793-3330 to speak with one of our professionals.

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