""Historically, banks have always been a target. During the 1920s and 1930s, when bank robbery was at its peak, the infamous bank robber Willie Sutton Jr. was once asked why he robbed banks. His answer was simple: 'Because that's where the money is,'" Illes remarks. "Today, traditional bank robbery has declined, and the physical act of robbing a bank is less lucrative than ever due to advances in security technology, cash controls, and law enforcement coordination.""
""The banking industry operates in a highly regulated and publicly visible risk environment. Financial institutions are entrusted not only with people's money, but with their confidential information. It's important that they maintain people's confidence and trust," says John Illes, Segment Development Manager - Banking and Finance at Axis Communications. "When an incident occurs at a financial institution, whether it involves violent crime, insider misuse, fraud, or an IT system failure, it immediately draws public attention,""
Banks and financial institutions must secure diverse valuable assets—money, property, data, and reputation—requiring comprehensive security measures. They operate in a highly regulated, publicly visible risk environment where custody of confidential information heightens responsibility. Incidents such as violent crime, insider misuse, fraud, or IT failures attract immediate public attention and rapidly affect employee safety, customer trust, regulatory standing, and brand reputation. Although traditional bank robbery has declined through advances in security technology, cash controls, and law enforcement coordination, threats persist across physical and cyber domains. Malicious actors continue to target banks because of concentrated assets, necessitating layered prevention, detection, and response capabilities.
Read at Securitymagazine
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