Thrissur ATM heist: Are ATM machines safe?

Kochi: In the wake of the ATM heist in Thrissur, where a gang stole approximately Rs 70 lakh from three SBI ATMs, questions are being raised about the effectiveness of ATM security measures. The incident unfolded early Friday morning when the gang, comprised of men from Haryana, targeted the Mapranam, Thrissur East, and Kolazhy ATMs, destroying CCTV cameras and using gas cutters to access the cash.

Following the robbery, Tamil Nadu police engaged in a dramatic chase that resulted in the death of one suspect and the arrest of six others. In an attempt to mislead authorities, the gang concealed the car used in the heist within a container truck.

The robbery has sparked concerns about ATM safety and the cash replenishment process. Typically, money is replenished in ATMs from the affiliated bank's branches. For ATMs located in remote areas, security agencies are responsible for the cash replenishment.

Maximum limit of Rs 5 crore in one trip

Banks enter into contracts with agencies only after examining special conditions and documents. According to the guidelines from the Ministry of Commerce, agencies can carry a maximum of Rs 5 crore in one trip. In case of loss of money through agencies or directly from ATMs, insurance will be available.

CCTV surveillance

Based on the location of the ATM, there should be at least three or four CCTV cameras installed. The activities at each ATM are monitored in real-time through a centralized system of each bank. Therefore, representatives from various banks state that there is no need to deploy security personnel.

Secret codes for cash replenishment

To enhance ATM security, a special digital lock is used. The ATM can only be accessed to refill cash with the use of an OTP. If an ATM has only 500-rupee notes, it can be filled with up to 40 lakh rupees.

10,000 ATMs in Kerala

According to the statistics from the State Level Bankers’ Committee, there were 9,803 ATMs in Kerala as of June 2024. By the end of this financial year, the number is expected to exceed 10,000. Of these, 6,019 ATMs belong to public sector banks, while 3,462 are from the private sector, and the rest belong to small finance banks.

The State Bank of India has the most ATMs (3,399), followed by Federal Bank (761), South Indian Bank (747), and Canara Bank (726). Ernakulam has the highest number (1,685), followed by Thiruvananthapuram (1,227) and Thrissur (1,008) in the second and third positions, respectively.