BSP not keen on CCTVs, guards in city ATM sites

CEBU, Philippines - Not wanting the additional “financial burden,” the Banko Sentral ng Pilipinas has opposed the installation of close circuit television and the passage of a proposed ordinance requiring banks to deploy guards at Automated Teller Machines sites.

BSP Assistant Governor for Financial Supervision Research and Consumer Protection Johny Noe Ravalo said requiring CCTVs and stationing a guard in each of the ATM sites in Cebu City may not be practical and would only unnecessarily burden banks, which would just pass on the expense to the consumers.

“The cost of business will also rise. A one is to one ratio of ATM and CCTV will not be warrantied. If only we all recognize cloning devices, these additional security features would not be needed. So if you see a fat ATM machine, there is something wrong because these machines are supposed to look streamlined,” Ravalo said.

He said public vigilance and orienting one’s self on the different types of scams are more effective than an additional guard or a CCTV.

The proposed “Ordinance Requiring Any Person Operating Automated Teller Machine Within Cebu City to Assign Security Guard/Personnel in ATM Sites, and Providing Penalties for Violations Thereof” was authored by City Councilor Noel Eleuterio Wenceslao.

Earlier, the Cebu Bankers Club said deployment of guards in ATM sites is not financially feasible for the banking industry.

CBC president Gino C. Gonzalez said employing additional security personnel to guard ATMs would entail more cost to bank institutions

Based on his computation, Gonzalez said operating costs, including the guard’s salary could go as high as P80,000 a month

Ravalo also urged the public to exercise good judgment when planning to do an ATM transaction, particularly pointing out that people should be aware of the security of the place, as he urged everyone to join today’s Cebu Council public hearing on the issue.

Because of easy access, transacting through ATM is very popular, especially with the increasing number of ATM sites.

Wenceslao, however, said this also resulted to ATM-related crimes like robbery and ATM fraud.

 “The presence of security guard or security personnel is helpful in the prevention and deterrence of crime; thus, assigning security guard or security personnel in areas where ATMs are situated would promote protection of life and property,” he said.

He also said that security guards in ATM sites, which are strategically situated, could also help maintain peace and order in the city. —(FREEMAN)