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Physical vs. Logical Security
What you should know...
Bank security has evolved into a multi-tiered proposition due to the emergence of new and more sophisticated threats to financial institutions.
For the protection of customers, employees, and assets from threats on premises.
Physical security encompasses both what was historically regarded as physical equipment, and electronic equipment. The former can be subcategorized as follows:
Electronic equipment is the sexier cousin of physical equipment, marked by tremendous advances in technology in the last decade. While video surveillance was historically populated by DVRs and analog cameras, it has now shifted to favor NVRs and IP cameras, as well as CCTV. Access control is growing in complexity, and now includes everything from simple card readers to biometrics. Intrusion alarm systems are also increasingly sophisticated.
For the protection of systems and data that could otherwise compromise assets, identity and privacy.
While physical security is spearheaded by Operations and Security Officers within banking organizations, logical security is overseen by Information Technology and Compliance Officers. The challenge? Ensuring that the integrity of all data is preserved, whether accessed from an internal desktop or a customer’s iPhone. Today’s society is becoming increasingly mobile and the demands on banks and credit unions are increasing exponentially, as they struggle to maintain user friendliness while contending with increased security risks. Multi-tier security models and other enhanced authentication tools have gained in popularity. Still, many contend that the greatest threat to mobile banking security is the mobile banking user. Consumer education will therefore be key to optimizing logical security in the future.
Convergence of Physical and Logical Security
Institutions are increasingly recognizing the need to ensure that all elements of the physical/electronic security mix are working together to provide a real solution to an organization’s security needs. See Integration Solutions. As an organization take steps toward true integration of its physical/electronic security components, more people and departments become involved in decision making, including Operations, Security, and IT. The keys to success are compatibility and communication. This applies to the equipment itself, the people, and the platform/processes. But the payouts are tremendous. True integration leads to economies of scale, organizational efficiencies, and enhanced overall security.