CCTV-based video analytics solutions: making banking safer and smarter

Posted by kamal on May 17th, 2022

Apart from thefts, robberies, and cybercrime, banks and financial institutions also suffer massive losses due to fraud such as usage of fake checks, stolen or cloned debit cards, and misappropriation of bank deposits. In such scenarios, usage of CCTV-based video surveillance platforms can be helpful during investigations, enabling banks to review and strengthen their security measures, and also the ability of fraud detection and prevention of crime through monitoring of suspicious behaviour. There are numerous ways where video analytics system can help make banks safer and fraud proof. Let’s take a look at some of them:

Monitoring of restricted access areas

Bank branches as well as ATMs handle significant cash volumes each day. Employees need to be alert and well-versed with the protocols to deal with any eventuality. Typically, processes such as opening the cash vaults or transfer of cash boxes is handled through dual control systems wherein two different employees need to coordinate to get the task done. This is where the advanced video analytics integrated CCTV systems continuously monitor restricted access and sensitive areas such as the locker area, cash chests, cashier counters, and server rooms etc. If any activity or behaviour which is not appropriate or suspicious is observed by the cameras, such as tampering with ATMs, carrying a weapon or someone trying to enter a restricted area, the system automatically raises alerts to draw attention. 

No tampering with security cameras

When someone enters a bank premise or ATM kiosk with intent of committing a crime, the first focus is on blocking the camera’s vision, dismantling or destroying the CCTVs or to cut their connections. Whenever such an activity that prevents the cameras from functioning or monitoring their visual range, takes place, the cameras automatically notify the security teams through alert and alarm functions. 

Fraud and theft detection in branches

As mentioned earlier, fraud, theft and illegal swindling of cash is a real and recurring loss for the banking firms. However, all these financial crimes of fraud and theft are now being prevented by an ever-increasing presence of video analytics powered surveillance. Using such systems, banks can check employee and customer behaviour and keep an eye on any suspicious movements throughout the day. At times, there are crimes wherein the bank employees use sensitive customer data to commit a fraud or transfer the customer deposits.