This article was added by the user . TheWorldNews is not responsible for the content of the platform.

More changes coming to bank operations amid incidents of ABM theft

By Kimone Witter

The Jamaica Bankers' Association says more changes are coming to the operations of financial institutions as their security reviews continue in earnest in response to the incidents of theft and vandalism of automated banking machines (ABMs).

National Commercial Bank Jamaica Limited on Monday announced that it may close some of its ABMs or limit their times of operations.

The entity did not list the locations which will see these changes.

JBA Vice President Audrey Tugwell Henry said the Bankers' Association has been discussing methods to mitigate the losses at the hands of criminals.

"We also have been reviewing with our service providers measures to protect employees, our customers and business operations. Now, we have an Operations Committee at the Bankers' Association level and that Operations Committee will be reviewing a number of measures," she said, declining to go into specifics.

But the JBA vice president said banks have also been devising their own strategies to protect their operations. 

Mrs Tugwell Henry, who is also President and CEO of Scotiabank Jamaica, said there is no plan at this time to adjust the bank's ABM operations.

"We have annual security reviews of all locations, and so that is part of our business process, and that process will continue... but not an immediate review in terms of a response to theft of an ABM because we have not experienced that," she explained.  

On the weekend, representatives of financial institutions met with their service providers, the police and other stakeholders to discuss changes to their security arrangements.